Odaily News The stablecoin market has experienced a modest boost since the start of October, although overall growth remains fairly slow. Currently, the market capitalization of stablecoins is about $172.7 billion, an increase of 27.93% compared to the data on January 27 at the beginning of the year (US$134.99 billion). Among them, 48.9% of stablecoins are located on the Ethereum chain, and 34.92% are circulating on the Tron chain. Next is BNB Chain, accounting for 3.18%, followed by Arbitrum, accounting for 2.58%. Ranked fifth is Base, accounting for 2.14%. It is worth mentioning that although the stablecoin market has expanded significantly since the beginning of the year, the transfer volume has been steadily declining since May. Artemis Terminal data shows that since the peak of US$3.6 trillion in May, the transfer volume of stablecoins has decreased significantly, falling to US$1.6 trillion last month. As of October, the amount of recorded transfers was about US$1.2 trillion. Although the number of active stablecoin addresses has also declined since March, the decline is not as large as the transaction volume. Of the $1.2 trillion transferred this month, $309.2 billion was made on Ethereum, while Tron processed $282.9 billion in transfers. This means that Ethereum and Tron together accounted for 49.34% of October's transfer volume. (Bitcoin.com)