USDG liquidity rotated hard: XLayer now leads with ~$1.14B, overtaking Solana after a large chunk of OKX-linked supply migrated.

Ethereum still holds a steady base, but the marginal flows are clearly more mobile than people assume. Stablecoin dominance at the chain level is starting to look less like network effects and more like venue-driven liquidity.
_
〽️ Crypto Pulse 👉 @degendaoinfo #crypto