Stablecoin Market Sees Moderate Boost Amid Slow Growth

According to Odaily, since the beginning of October, the stablecoin market has experienced a moderate boost, although overall growth remains relatively slow. The current market capitalization of stablecoins stands at approximately $172.7 billion, reflecting a 27.93% increase from the $134.99 billion recorded at the start of the year on January 27. Among these, 48.9% of stablecoins are on the Ethereum blockchain, while 34.92% circulate on the Tron blockchain. The BNB Chain follows with a 3.18% share, Arbitrum with 2.58%, and Base with 2.14%. Notably, despite the significant expansion of the stablecoin market since the beginning of the year, the volume of transfers has been steadily declining since May. Data from Artemis Terminal indicates that after peaking at $3.6 trillion in May, the volume of stablecoin transfers has significantly decreased, dropping to $1.6 trillion last month. As of October, the recorded transfer amount is approximately $1.2 trillion. While the number of active stablecoin addresses has also declined since March, the decrease is not as pronounced as the drop in transaction volume. Of the $1.2 trillion transferred this month, $309.2 billion was conducted on Ethereum, and Tron handled $282.9 billion in transfers. This means that Ethereum and Tron together accounted for 49.34% of the transfer volume in October.