The on-chain transaction volume of stablecoins reached 850 billion US dollars in February, with USDC and USDT accounting for over 87%

The on-chain transaction volume of stablecoins has maintained a strong momentum, with an average monthly transaction volume of about 800 billion US dollars over the past four months. The number of addresses transferring stablecoins is also steadily increasing, with the daily address count reaching 600,000 in the most recent week. USDC and USDT remain dominant in this field, accounting for 740 billion out of a total trading volume of 850 billion U.S. dollars in February. Ethereum remains the preferred blockchain for stablecoin activity, hosting $35 billion worth of USDC and $67 billion worth of USDT. Despite the emergence of alternative blockchains, this dominance highlights Ethereum's role as the main settlement layer for digital dollar transactions.