The total market capitalization of stablecoins has surpassed $310 billion... On-chain transfer volume surged by 44%

The total market capitalization of stablecoins has increased to $310.674 billion, showing a moderate trend of liquidity recovery.

According to DeFiLlama data on the 28th, the total market cap of stablecoins reached $310.674 billion, up 1.01% from the previous week.

The daily increase is +0.34%, and the 30-day increase is +0.39%, indicating that despite short-term adjustment pressures, the gradual liquidity expansion trend continues.

In terms of stablecoin market share, the top-ranked Tether maintains an absolute advantage with $186.613 billion (60.07%), followed by USDC with $76.599 billion (24.66%).

Next are USDe (2.08%), SkyDollar (USDS, 2%), DAI (1.51%), PayPal USD (1.19%), and USDf (0.66%).

Weekly price changes show that major stablecoins generally increased: ▲DAI (+3.93%) ▲USD Coin (+2.26%) ▲USDe (+2.61%) ▲Tether (+0.37%) ▲PayPal USD (+1.00%); ▲World Liberty Financial USD (+0.96%) and ▲USDf (+0.07%) also saw slight gains.

Meanwhile, some stablecoins like ▲SkyDollar (–6.78%) ▲Circle USYC (–1.06%) ▲Global Dollar (–0.76%) performed weakly, reflecting differences in market capital flow.

Stablecoin Market Share / DeFiLlama

In terms of on-chain share within the stablecoin market, Ethereum accounts for the largest portion with $165.568 billion (53.30%).

Tron holds the second position with $82.932 billion (26.70%), followed by ▲BSC $15.369 billion (4.95%), ▲Solana $15.280 billion (4.92%), and ▲Base $5.146 billion (1.66%).

Weekly data shows ▲Solana (+12.65%) ▲Base (+10.46%) ▲Avalanche (+5.77%) ▲Tron (+1.85%) ▲Polygon (+2.46%) ▲BSC (+0.81%) ▲Plasma (+0.78%) trending upward, while ▲Arbitrum (–0.57%) and ▲Ethereum (–0.42%) performed weakly.

According to RWA.xyz, the total on-chain transfer volume of all tracked stablecoins over the past 30 days reached $8.26 trillion, a 44.49% increase week-over-week.

Monthly active addresses reached 46.76 million, an increase of 7.44%; the total number of stablecoin holding addresses increased to 222.08 million, a growth of 5.29%.