Swap volume on wallet provider Metamask set an all-time high over the past weekend. Due to the collapse of leading crypto-friendly banks like Silvergate and Signature.
Metamask group manager Dan Finlay said on The Scoop podcast with Frank Chaparro:
“It’s just speculative panic. People weren’t sure what to trust. And everyone seems to want something stable,” he says, noting that people are “Major moves in response to this situation.”
Finlay said: “People are betting. They were shocked that some of their stablecoins were going to drop, with the DAI falling as most of the support was in USDC,” Finlay said.
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