DeFi· ★★★· neutral·

Ethereum and its L2s settled 77% of stablecoin volume, with $16.75 trillion in transfers

  • —Ethereum and L2s settled $16.75 trillion in stablecoin transfers over 90 days
  • —That is 77% of the $21.55 trillion in stablecoin transfers across all networks
  • —Base settled $8.5 trillion, while Ethereum mainnet handled $7.1 trillion
  • —Optimism accounted for $0.8 trillion and other L2s for $0.35 trillion
Why it matters: Ethereum remains the default venue for stablecoin flows, but activity is shifting to cheaper L2s, reshaping where fees accrue.
#ETH
Source: Crypto Briefing
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