a16z: The annual trading volume of stablecoins reaches $46 trillion, which is 20 times that of PayPal

ChainCatcher news, the report "State of Crypto 2025" published by a16z points out that the crypto market is still expanding and exhibits a feedback loop characteristic of "price --- developers --- users." Crypto usage is global, but the fastest-growing area of on-chain activity comes from developing countries; developers are most active in multi-chain ecosystems such as Ethereum (including L2), Solana, and Bitcoin.

In addition, stablecoins have become a widely discussed topic, with an annual trading volume of $46 trillion, which is 20 times that of PayPal and 3 times that of Visa.