Brevan Howard Digital specialists, thanks to the analysis of blockchain transactions, revealed that about five million addresses containing stablecoins on their balances are active daily. Yet three-quarters of stablecoin holders make transactions of less than $1,000 per week: “This indicates that small/retail users likely make up the majority of stablecoin holders.”
Brevan Howard noted that the volume of transactions in stablecoins for 2022 was almost equivalent to the volume of transactions on bank cards of the Visa payment system: $11 trillion against $11.6 trillion. Consequently, significant volumes of stablecoins are most likely not used for speculative purposes, but act as a means of everyday settlements.
“It is expected that stablecoins will find wide application in the provision of financial services. Especially in countries where the population is not sufficiently covered by banking products. This will significantly reduce the dependence of citizens on currencies with high inflation, and will also stimulate economic development based on new forms of money movement in a decentralized network,” the report says.
According to Brevan Howard, stablecoin transactions are dominated by the Tron blockchain. The Tron and BSC (Binance) blockchains account for about 75% of transactions and approximately 41% of the total volume of transactions.
Among the 15 blockchain ecosystems where the USDT stablecoin is available, according to a new Tether report, the Tron network also leads in terms of the number of allowed assets with $42.8 billion, followed by Ethereum and Solana with $39 billion and $1.88 billion, respectively.
Source: Bits
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