Stablecoin Supply Exceeds $300 Billion Amid Shifting Blockchain Activity

ARK Invest's quarterly report indicates that the total stablecoin supply exceeded $300 billion by the end of last year. According to NS3.AI, growth slowed after a market shock in October. The report notes that while decentralized finance (DeFi) usage as a cryptocurrency payment and transaction layer increased in the fourth quarter, activity migrated across various blockchain networks. The Base network notably saw a 121% rise in stablecoin transaction volume, reaching around $3 trillion, surpassing Ethereum and Tron.