Stablecoins accounted for 74.6% of the total over-the-counter trading volume of institutions in the first half of the year, with USDC trading volume increasing 29 times year-on-year

According to a report by The Block, Finery Markets' latest report shows that stablecoins have accounted for 74.6% of institutional trading volume in the first half of 2025, up from 46% in the same period last year and 23% in 2023. Among them, USDC has shown particularly outstanding performance, with a year-on-year increase of 29 times in trading volume driven by EU MiCA regulations. The report is based on the analysis of 4.1 million transaction data from the platform from January to June. Institutional trading shows three major trends: overall over-the-counter spot trading volume increased by 112.6% year-on-year, stablecoin trading volume increased by 154%, while cryptocurrency and stablecoin trading saw a surge in liquidity by 277.4%, far exceeding the 48.5% growth rate of fiat trading pairs. In addition to mainstream assets, altcoins such as Cardano and Solana collectively hold a market share of 16.7%. Analysts say that this makes stablecoins the fastest-growing sector in the cryptocurrency market.