What’s the bigger story right now: stablecoins as real payments, or stablecoins as the new trading rails?
I pulled 5 YoY trends from @artemis ↓
1. Transaction volume ripped in 2025
$33T in stablecoin volume, +72% YoY
2.
$USDC led volume vs $USDT
USDC: $18.3T
USDT: $13.3T
3. Supply is climbing again
Total stablecoin supply pushed back to ~$300B+
4. The chain mix keeps shifting
Ethereum is still #1, but Tron has a huge share and keeps growing
5. Non-USD stables are still tiny
Euro stables are a rounding error vs USD stables
We’ll see it in who holds share, and where the growth shows up first.