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Monthly stablecoin supply by stablecoin

Total stablecoin supply has reached an all-time high in the past few months, driven primarily by the growth of USDT. USDC supply has also rebounded from the lows of late 2023.

Monthly stablecoin supply by blockchain

The majority of stablecoin supply continues to be on Ethereum, though Tron has seen rapid growth in recent years, with roughly one-third of the supply hosted on Tron.

Monthly adjusted stablecoin transaction volume by blockchain

Stablecoin transaction volume has reached record highs, surpassing 2.5T recently. Solana has overtaken Ethereum, Tron and Base as the blockchain with the largest share of transaction volume.

*Note: The adjusted stablecoin transfer volume metric is designed to strip out MEV activity and intra-centralized exchange transfers, providing a clearer picture of genuine user-driven stablecoin activity.

Monthly stablecoin transaction count by blockchain

Transaction counts have also hit an all-time high, surpassing 700 million monthly transactions. While Base, Ethereum, Tron and Solana move the majority of dollar volume, the majority of transaction activity is concentrated on Solana and Celo.

Monthly active stablecoin wallet addresses by blockchain

Active stablecoin wallets have grown 70% year-over-year, surpassing ~30 million recently. While Tron and BNB account for the majority of active wallets, Polygon and Solana have grown rapidly over the past year.

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Monthly stablecoin supply by stablecoin

Monthly stablecoin supply by stablecoin

Monthly stablecoin supply by blockchain

Monthly stablecoin supply by blockchain

Monthly adjusted stablecoin transaction volume by blockchain

Monthly adjusted stablecoin transaction volume by blockchain

Monthly stablecoin transaction count by blockchain

Monthly stablecoin transaction count by blockchain

Monthly active stablecoin wallet addresses by blockchain

Monthly active stablecoin wallet addresses by blockchain

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