Stablecoin Volume Hits Record $1.79T in June
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- Stablecoin transaction volume hit a record $1.79 trillion in June, per Visa's adjusted transaction methodology that filters out non-organic activity.
- Coinbase's Base network led all chains with $565 billion (31.5% of total), narrowly edging Ethereum's $562 billion.
- Tron ranked third among networks with $320 billion, roughly 18% of total adjusted volume.
- Visa developed the adjusted transaction methodology with Artemis, Allium Labs, and Castle Island Ventures, stripping out high-frequency trading bots, exchange treasury rebalancing, and repeated smart contract calls.
- Nick Ruck, director of LVRG Research, told Cointelegraph the record demonstrates stablecoins' resilience amid the broader crypto bear market and that they are maturing into foundational Web3 infrastructure.
- Open Standard announced its Open USD (OUSD) stablecoin, backed by more than 140 payments, banking, technology, and crypto companies including Visa and Mastercard.
Why it matters: Base, a layer-2 rollup, overtaking Ethereum mainnet for stablecoin volume — $565B vs. $562B — is a notable reshuffling of where settlement and fee revenue concentrate within crypto's largest use case. The methodology choice (filtering bots and treasury rebalances) suggests Visa and its partners want to prove stablecoins function as real payment rails, not just exchange plumbing.
