Increased stablecoin usage could be a sign of growing crypto adoption for a maturing industry.
Stablecoin transfers have increased more than 16-fold over the past four years, which is being highlighted as a promising metric of mass cryptocurrency adoption.
The monthly stablecoin transfer volume rose to a record high of $1.68 trillion in April, up from $100 billion in October 2020, which represents an over 16-fold increase, based on Token Terminal data.
Stablecoins represent the main bridge between the traditional financial system and the digital asset space. Stablecoin movements are often used to gauge the health of the crypto market and the conviction of investors.
