Stablecoin market cap slips 0.6% year-on-year to $301.4B
- —Market cap: $301.42B vs $303.14B a year earlier
- —Q3 transfer volume reached $891B, over 4x early 2023
- —73% of transfers occurred outside US banking hours
- —7 of the 10 largest US banks have tested stablecoins for payments
Why it matters: Transfer volumes are expanding while issuance stalls, signaling stablecoins are increasingly used for payments rather than as a store of value.
Source: TokenPost