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

Odaily Planet Daily Report: Since October, the stablecoin market has experienced moderate recovery, although overall growth remains quite slow. Currently, the stablecoin market cap is around $172.7 billion, an increase of 27.93% compared to the data on January 27 this year ($134.99 billion). 48.9% of stablecoins are on the chain, and 34.92% are circulating on the chain. Next is , accounting for 3.18%, followed by at 2.58%. Ranking fifth is , accounting for 2.14%. It is worth mentioning that although the stablecoin market has expanded significantly since the beginning of this year, the transaction volume has been steadily declining since May. Artemis Terminal data shows that since reaching a peak of $36 trillion in May, the stablecoin transaction volume has decreased significantly, dropping to $16 trillion last month. As of October, the recorded transaction amount is about $12 trillion. Although the number of active stablecoin addresses has also declined since March, the decline is not as severe as the transaction volume. Of the $12 trillion transferred this month, $309.2 billion was on , and processed $282.9 billion in transfers. This means that and together accounted for 49.34% of the transaction volume in October.