Stablecoin switch volumes rose 33% throughout 9 completely different blockchains within the final seven days, in line with on-chain information aggregator Artemis. Regardless of a 0.2% weekly fall in complete provide, the variety of transfers surpassed 10 billion throughout this era, with a 1.4 billion day by day common.
Ethereum leads the pack with a registered weekly switch quantity of just about $24 billion, representing a 35% leap throughout this era, by way of 285,000 transfers. Solana takes second place with a stablecoin switch quantity near $22 billion in the identical interval, an enormous 78% leap, and virtually 5 million transfers.
One key distinction between each blockchains may very well be seen within the common switch worth. Whereas the Ethereum stablecoin’s common switch worth is larger than $83,000, Solana registers a considerably smaller common of $4,500.
Of all 9 blockchains tracked by Artemis, solely BNB Chain, Avalanche, and Base registered falling stablecoin switch volumes. Nevertheless, the variety of transfers rose in all three of them up to now seven days.
Arbitrum dominates the L2 panorama
Artemis’ stablecoin exercise dashboard additionally factors to the dominance of Arbitrum over the opposite Ethereum layer-2 blockchains. Polygon and Optimism switch volumes mixed quantity to only half of Arbitrum’s final week.
This dominance is a recurring development, and the hole stretches if the final 30 days are taken into consideration. Arbitrum’s stablecoin market reveals a month-to-month $42.8 billion switch quantity, which is 160% bigger than Polygon’s $16.4 billion. The distinction is much more important when Optimism’s $8.5 billion stablecoin switch quantity comes into the image, falling in need of Arbitrum by 400%.
Base, the layer-2 blockchain created by crypto trade Coinbase, amassed $3.2 billion in month-to-month stablecoin switch quantity. Though the quantity is 13 occasions decrease than Arbitrum’s stablecoin switch quantity throughout the identical interval, that is important for a series with lower than six months since its mainnet launch.
