Golden Finance reported that according to data from The Block, Ethereum's on-chain stablecoin trading volume has reached a record high of $1.46 trillion, more than doubling the $650 billion at the beginning of the year. Among them, decentralized stablecoin DAI leads with a trading volume of $960 billion. However, after data cleaning and filtering, DAI's trading volume lags behind USDT and USDC, indicating that there may be false transactions and large transfers. The report said that the growth in the use of stablecoins is more likely to indicate that the ecosystem is maturing. The higher the stablecoin trading volume, the deeper the liquidity pool, the less slippage, and the higher the overall market efficiency.