Stablecoin transaction volume – adjusted for inorganic activity such as bots – reached an all-time high last quarter.

Impressive. Of the growth of stablecoins over the last year or so, what constitutes the main use case? Crypto trading/purchases or cross-border transfers for trading in goods and services?

Stablecoins have found product market fit and this chart shows it.

Stablecoin activity is largely uncorrelated to crypto market cycles – organic, non-speculative use appears to be widespread and growing even as crypto trading volume fluctuates.

Stablecoin activity is largely uncorrelated to crypto trading/purchases, which indicates there are other organic use cases emerging.

Stablecoin activity is largely uncorrelated to crypto trading/purchases, which indicates there are other organic use cases emerging.

https://warpcast.com/darenmatsuoka/0x1881d40a