Stablecoin transfer volume fell 19.18% to $831B in 30 days, yet market cap and holders rose as $USDT, $USDC, and $DAIadded billions while Ethena’s $USDesaw $1.1B outflows.

Stablecoin transfer volume declined 19.18% to $831 billion over the past 30 days, signaling reduced on-chain activity even as the broader stablecoin market continues expanding. Despite the sharp drop in transaction throughput, total stablecoin market capitalization