Stablecoins Hit $15.6 Trillion Quarter Volume, Bots Drive Activity

On-chain transfer activity for stablecoins reached a staggering new high of $15.6 trillion in the third quarter of 2025. This unprecedented volume underscores the growing role of stablecoins, but analysis reveals that the drivers behind this surge are more complex than they appear. While bots and automated systems account for approximately 71% of total transfers, representing a significant portion of the activity, human-driven use cases such as daily payments and remittances are also on the rise.