Ethereum’s stablecoin transaction volume hit a record of 2.82 trillion USD in October, marking a 45% month-on-month increase. USDC dominated the market with 1.62 trillion USD, followed by USDT with 895.5 billion USD.
During market pullbacks, traders increasingly relied on stablecoins for liquidity management. Stablecoin issuers generated approximately 65%-70% of the crypto protocols’ daily revenue, largely from safer asset interest income.
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