On December 21, according to a recent research report released by Artemis Analytics, the report conducted an empirical analysis of the actual payment uses of stablecoins on the Ethereum network, focusing on peer-to-peer (P2P), business-to-business (B2B), and person-to-business/business-to-person (P2B/B2P) payment activities. The study focuses on Ethereum because this chain carries about 52% of the global stablecoin supply, with USDT and USDC accounting for about 88% of the market share. The study points out:
Stablecoin payments (transfers between EOA accounts) account for about 47% of the total stablecoin transfer volume (approximately 35% if excluding transfers between the same institution's internal accounts), indicating that on-chain stablecoins are not all used for trading or DeFi, but rather a large amount is used for payment scenarios.
In terms of payment frequency, about 50% of stablecoin transactions are user-to-user payments (EOA-to-EOA), while the other half involves smart contracts (mainly DeFi).
In terms of payment amount, payments from institutions or large accounts account for the vast majority, indicating that the value density of stablecoin payments is concentrated in large accounts.
Stablecoin transfers on Ethereum are primarily driven by a small number of wallets, with the top 1000 wallets contributing approximately 84% of the total transaction volume, reflecting that payment activities are highly concentrated in the hands of large holders or institutions in terms of actual value.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
ETH Falls Below 2100 USDT
Gate News bot message, Gate market data shows that ETH has fallen below 2100 USDT, with the current price at 2099.54 USDT.
CryptoRadar1m ago
In 2016, an ancient-ETH whale allegedly sold 3,915 ETH and 24,000 AAVE, totaling about $10.72 million
Gate News message. On April 2, according to on-chain analysts monitoring, a 2016 ancient ETH whale with an exceptionally low cost basis of $203.22, after sleeping for one month, woke up yesterday (April 1), then immediately made high-frequency consolidations to addresses and deposited 3,915 ETH and 24,000 AAVE to a certain CEX, suspected to be selling. The total value is approximately $10.72 million. After the deposit, only 52 ETH remained on-chain. After holding Ethereum for nearly 10 years, the whale is now nearly fully liquidated.
GateNews3m ago
Four Wallets Withdraw 32,880 ETH Worth $70.03M from CEX
Gate News message, four wallets collectively withdrew 32,880 ETH valued at $70.03 million from centralized exchanges. All these wallets were created 113 days ago simultaneously. The addresses are: 0x5b4A6744483948f393e6D6C6C181Ce0a4e87F5bB, 0xd86536E111221306D34ac45Ad2Bda4b69d1dDc44, and 0x07A5D26ac
GateNews16m ago
BTC & ETH Entering a New Era? Analysts Say Yes — This Platform Is Already Paying Real BTC Rewards
Grayscale called it the “dawn of the institutional era.” Bitwise predicted Bitcoin will break its four-year cycle and set new all-time highs. Bitcoin Suisse published a scenario where Bitcoin approaches $180,000 and Ethereum reaches $8,000 on the back of Fed rate cuts and accelerating institutiona
CryptoPotato25m ago
