Messari: Stablecoin Market Cap Hits Record $258.5 Billion, Trading Volume Drops but Fees Surge

According to Odaily Planet Daily, citing the Messari weekly report, the total market capitalization of stablecoins has reached $258.5 billion, setting a new all-time high with a month-on-month increase of 2.7%. The average daily trading volume of stablecoins rebounded by 13.2% to $143.1 billion, reversing last week's decline, though it still marks a 6.3% decrease compared to the previous month. However, the number of transactions fell by 10% week-on-week to 35.3 million. The divergence between trading volume and transaction count may indicate an increase in average transaction size or heightened institutional activity.
The average daily transaction fees for stablecoins rose by 8.9% week-on-week to $23 million, reflecting strong demand for stablecoin applications. Smaller protocols performed impressively, with Sky’s fees surging 362.0% this week to $1.5 million, Ethena rising 367.8% to $613,700, and Usual’s fees skyrocketing 8,142.4% to $64,700. The growth in fees suggests a significant increase in user engagement on both major and emerging stablecoin platforms.