Messari: Stablecoin Market Cap Hits New High of $2585 Billion, Trading Volume Declines but Fees Surge

According to Messari's weekly report, the total market cap of stablecoins reached $258.5 billion, a new all-time high, with a month-on-month increase of 2.7%. The average daily trading volume of stablecoins rebounded 13.2% to $143.1 billion, reversing last week's decline, but still down 6.3% month-on-month. However, the number of transactions decreased 10% week-on-week to 35.30 million. The divergence between trading volume and the number of transactions may reflect an increase in the average transaction size or increased institutional activity. The average daily transaction fees for stablecoins increased 8.9% week-on-week to $23.00 million, indicating strong demand for stablecoin applications. Small protocols performed well, with Sky fees surging 362.0% this week to $1.50 million, Ethena up 367.8% to $613.70 thousand, and Usual fees skyrocketing 8142.4% to $64.70 thousand. The increase in fees indicates a significant increase in user engagement on major and emerging stablecoin platforms. [Odaily Planet Daily]