Stablecoin market capitalization has increased by nearly 28% since the beginning of the year, with transfer volume of approximately $1.2 trillion so far in October

Since the beginning of October, the stablecoin market has experienced a modest boost, although overall growth remains quite slow. Currently, the market value of stablecoins is about $172.7 billion, an increase of 27.93% compared to the data on January 27 at the beginning of the year (US$134.99 billion). Among them, 48.9% of stablecoins are located on the Ethereum chain, and 34.92% are circulated on the Tron chain. BNB Chain is second, accounting for 3.18%, followed by Arbitrum, accounting for 2.58%. Base ranks fifth, accounting for 2.14%. It is worth mentioning that although the stablecoin market has expanded significantly since the beginning of the year, the transfer volume has been steadily declining since May. Artemis Terminal data shows that since the peak of US$3.6 trillion in May, the transfer volume of stablecoins has decreased significantly, falling to US$1.6 trillion last month. As of October, the amount of recorded transfers was about US$1.2 trillion. While stablecoin active addresses have also declined since March, the decline has not been as dramatic as transaction volume. Of the $1.2 trillion transferred this month, $309.2 billion was made on Ethereum, while Tron processed $282.9 billion in transfers. This means that Ethereum and Tron together accounted for 49.34% of October's transfer volume. (Bitcoin.com)