Ethereum Accounts for 77% of Global Stablecoin Volume

Ethereum and its layer two networks accounted for 77% of the global volume of stablecoin transfers between July 15 and October 12, reaching a total of $16.75 billion. Base recorded the highest individual volume with $8.5 billion, followed by Ethereum's main network with $7.1 billion. Optimism accumulated $800 million, and other layer two networks added $350 million. Outside of this ecosystem, Tron moved around $2.1 billion and Solana about $1.4 billion. Stablecoin transfers totaled $21.55 billion across 48 networks. However, the accumulated volume does not reflect the money used in one-time payments, as it includes decentralized finance operations that can generate multiple transfers. This raises the question of how much of the recorded activity translates into payments and financial services used by individuals and businesses.

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