5 months ago
31 ARTICLE AD
Ethereum leads with $24 billion in a week, and Arbitrum dominates the layer-2 blockchain landscape.
Stablecoin transfer volumes rose 33% across nine different blockchains in the last seven days, according to on-chain data aggregator Artemis. Despite a 0.2% weekly fall in total supply, the number of transfers surpassed 10 billion during this period, with a 1.4 billion daily average.
Ethereum leads the pack with a registered weekly transfer volume of almost $24 billion, representing a 35% leap during this period, through 285,000 transfers. Solana takes second place with a stablecoin transfer amount close to $22 billion in the same period, a huge 78% leap, and almost 5 million transfers.
One key difference between both blockchains could be seen in the average transfer value. While the Ethereum stablecoin’s average transfer value is higher than $83,000, Solana registers a significantly smaller average of $4,500.
Of all nine blockchains tracked by Artemis, only BNB Chain, Avalanche, and Base registered falling stablecoin transfer volumes. However, the number of transfers rose in all three of them in the past seven days.
Artemis’ stablecoin dashboard. Image: ArtemisArbitrum dominates the L2 landscape
Artemis’ stablecoin activity dashboard also points to the dominance of Arbitrum over the other Ethereum layer-2 blockchains. Polygon and Optimism transfer volumes combined amount to just half of Arbitrum’s last week.
This dominance is a recurring trend, and the gap stretches if the last 30 days are taken into account. Arbitrum’s stablecoin market shows a monthly $42.8 billion transfer volume, which is 160% larger than Polygon’s $16.4 billion. The difference is even more significant when Optimism’s $8.5 billion stablecoin transfer volume comes into the picture, falling short of Arbitrum by 400%.
Base, the layer-2 blockchain created by crypto exchange Coinbase, amassed $3.2 billion in monthly stablecoin transfer volume. Although the number is 13 times lower than Arbitrum’s stablecoin transfer volume during the same period, this is significant for a chain with less than six months since its mainnet launch.
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
