Monthly stablecoin transfer volume in April jumped to $1.68 trillion from $100 billion in October 2020, according to Token Terminal data. This highlights the potential of stablecoins to improve financial processes and facilitate cross-border transfers. 📈🌐

Visa's network is used as a reference for Token Terminal's post on X and tracks its data. It reported that 31.2 million users completed more than 350 million transactions in the last 30-day period, generating a transaction volume of $2.7 trillion.

However, despite the large and generally positive statistics reported in April, monthly transfer volumes decreased slightly in May 2024.

As of June, the total market cap of all stablecoins now exceeds $162 billion, which is a 24% increase from $130 billion in January 2024.

Ethereum-based stablecoins dominate the market and hold 49.49% of the market share. While stablecoin transfer volumes increased in April, Ethereum-based ones led the market, with DAI reporting volumes of $636 billion.

The recent increase in stablecoin volumes indicates increasing interest in this asset class. Analysts emphasize the role of stablecoins in facilitating various financial services, especially cross-border transfers.