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Messari: Stablecoin Market Cap Reaches New High of $258.5 Billion, Trading Volume Declines But Fees Surge
Summary: According to Messari's weekly report, the total market cap of stablecoins has reached $258.5 billion, hitting a historical high with a 2.7% month-on-month increase. The daily average trading volume of stablecoins has risen by 13.2% to $143.1 billion, reversing last week's decline, but still down by 6.3% month-on-month. However, the number of transactions has decreased ...
According to Messari's weekly report, the total market cap of stablecoins has reached $258.5 billion, hitting a historical high with a 2.7% month-on-month increase. The daily average trading volume of stablecoins has risen by 13.2% to $143.1 billion, reversing last week's decline, but still down by 6.3% month-on-month. However, the number of transactions has decreased by 10% week-on-week to 35.3 million. The divergence between trading volume and transaction numbers may reflect an increase in average trade size or institutional activity. The daily average trading fees for stablecoins have increased by 8.9% week-on-week to $23 million, indicating strong demand for stablecoin applications. Small protocols have shown impressive performance, with Sky fees surging by 362.0% to $1.5 million, Ethena rising by 367.8% to $613,700, and Usual fees skyrocketing by 8142.4% to $64,700. The fee growth suggests a significant increase in user participation on major and emerging stablecoin platforms.
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Link: Messari: Stablecoin Market Cap Reaches New High of $258.5 Billion, Trading Volume Declines But Fees Surge [Copy]
