Stablecoin Velocity Hits Record 49.7x as Real Economic Usage Surges Remittances, B2B and B2C payments is now the fastest-growing segment, while exchange-related volume has shrunk to a minor share of total activity Since 2025, transaction volume has outpaced supply growth, pushing velocity (actual d

Stablecoin Velocity Hits Record 49.7x as Real Economic Usage Surges Remittances, B2B and B2C payments is now the fastest-growing segment, while exchange-related volume has shrunk to a minor share of total activity Since 2025, transaction volume has outpaced supply growth, pushing velocity (actual d

DWF 研报：稳定币年化换手率达 49.7x 创历史新高，比特币与以太坊 ETF 遭遇持续流出 DWF 发布最新研报显示，全球稳定币年化换手率（Velocity）已达到 49.7x 的历史最高水平，今年前五个月累计促成了 6.64 亿美元的过滤后交易量。分析指出，当前稳定币发展已进入“真实世界采用”的第三阶段，汇款、B2B 与 B2C 支付成为增长最快的领域，而交易所相关交易量占比已大幅缩减。自 2025 年以来，稳定币交易量的增速完全超越了供应量的增长，推动其换手率从 39.3x 一路飙升至当前的 49.7x，反映出其实际应用价值正在压倒投机属性。 相比之下，加密货币现货 ETF 渠道则

DWF 研报：稳定币年化换手率达 49.7x 创历史新高，比特币与以太坊 ETF 遭遇持续流出 DWF 发布最新研报显示，全球稳定币年化换手率（Velocity）已达到 49.7x 的历史最高水平，今年前五个月累计促成了 6.64 亿美元的过滤后交易量。分析指出，当前稳定币发展已进入“真实世界采用”的第三阶段，汇款、B2B 与 B2C 支付成为增长最快的领域，而交易所相关交易量占比已大幅缩减。自 2025 年以来，稳定币交易量的增速完全超越了供应量的增长，推动其换手率从 39.3x 一路飙升至当前的 49.7x，反映出其实际应用价值正在压倒投机属性。 相比之下，加密货币现货 ETF 渠道则

DWF Report: Crypto Spot ETFs Struggle With Capital Retreat DWF Labs said global stablecoin velocity has reached a record annualized 49.7x, driven by growing real-world use in remittances and B2B/B2C payments. By contrast, spot crypto ETFs are facing capital retreat, with Bitcoin ETFs seeing $6.6 bi