On-chain dollars hit 2.3% of global payments: Why Bitcoiners should care
Stablecoins processed $46 trillion in the last year, reaching 2.3% of global payment flows, signaling growing relevance for crypto liquidity and network economics.Summary
A recent a16z crypto report indicates that stablecoins moved approximately $46 trillion over the past year, representing about 2.3% of global payment flows when compared to the estimated $2 quadrillion global payment value for 2024. This places on-chain dollars alongside mainstream rails for specific uses like cross-border transfers. In terms of monetary base, the average stablecoin float ($250B–$300B) is slightly over 1% of the U.S. M2 money stock, with an implied annualized turnover rate between 150 to 185 times. The growth of these flows is being supported by regulatory clarity, such as the U.S. GENIUS Act, and expanding distribution through card networks and enterprise wallets. Future projections suggest stablecoin transfers could reach $70 trillion to $90 trillion by 2027 under a base scenario. For Bitcoiners, this deepening dollar leg in crypto is bullish for liquidity, tightening spreads, and improving price discovery. For Ethereum, increased payment throughput drives fee revenue and potential ETH burn. Ultimately, expanding stablecoin adoption provides 24/7 liquidity that can dampen volatility during macro shocks.
(Source：CryptoSlate)