Data: Since May, the transfer volume of stablecoins has decreased from $3.6 trillion to $1.2 trillion

ChainCatcher news, according to Bitcoin.com, since October, the stablecoin market has experienced moderate growth, but overall growth remains quite slow. Currently, the industry is valued at $172.7 billion, with 48.9% of stablecoins circulating on Ethereum and 34.92% on Tron. Although the stablecoin market has significantly expanded since the beginning of this year, the transaction volume has been steadily declining since May. At that time, the transaction volume peaked at $3.6 trillion and dropped to $1.6 trillion last month. As of now, the transaction volume for October is approximately $1.2 trillion.

Although the number of active addresses has also decreased since March, the decline is not as severe as the reduction in transaction volume. Of the $1.2 trillion transacted this month, $309.2 billion was completed on Ethereum, while Tron processed $282.9 billion.