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USDG Market Cap on Arbitrum One Reaches $31.2 Million Following Significant Daily Growth
Paxos's Global Dollar stablecoin, USDG, has seen a substantial increase in its market capitalization on the Arbitrum One network, rising by $10.2 million in just 24 hours to reach a total of $31.2 million. This growth, which represents approximately 49% in a single day, follows the token's launch on October 6, 2026, alongside integrations with several decentralized finance (DeFi) protocols.
The launch of USDG on Arbitrum One is part of Paxos's broader strategy to enhance the stablecoin's presence through the Global Dollar Network (GDN). The token is natively issued on the Arbitrum blockchain, allowing for direct minting rather than relying on transfers from other networks. This integration includes support from key DeFi platforms such as Fluid for trading, Morpho for lending, GMX for deposits, and Maple for yield products.
Despite the recent growth on Arbitrum, USDG's market cap on this network remains a small fraction of its overall supply, which exceeds $3.2 billion, making it the seventh-largest stablecoin by market capitalization. The Arbitrum network currently hosts an estimated $4 billion in stablecoins, meaning USDG's presence accounts for less than 1% of the total stablecoin base.
In addition to its market activities, an ArbitrumDAO proposal is under consideration to allocate 100 million ARB tokens to incentivize liquidity and adoption of USDG on the network. This proposal highlights the governance aspect of the Arbitrum ecosystem and its potential to benefit from the revenue generated through the GDN, which shares income from reserve yields with distribution partners.
Source: KLEA News