Ethereum Stablecoin (crypto pegged to stable asset) Transfers Top $8 Trillion in Q4 2024

Ethereum Stablecoin (crypto pegged to stable asset) Transfers Top $8 Trillion in Q4 2024

Cointelegraph reports that Ethereum stablecoin transfer volume in Q4 2024 surpassed $8 trillion, marking the highest quarterly figure recorded in the network’s history.

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Fact Check
The assessment is 'likely_true' with high confidence due to strong, consistent evidence from multiple independent sources. Four highly relevant sources, including news articles from Bitget, Phemex, Coinlive, and a social media post from PANews, all directly and uniformly support the statement that Ethereum stablecoin transfer volume exceeded $8 trillion in Q4 2024. A key factor strengthening this conclusion is that three of these sources explicitly attribute the data to a specific and credible primary source: Token Terminal, a known on-chain analytics platform. The consistent citation of the same primary source across different secondary reports significantly increases the claim's credibility. There is no conflicting evidence among the provided sources. The lower-relevance sources are off-topic and do not contradict the claim; they discuss different subjects, such as corporate revenues or perpetual futures, and are therefore not material to this assessment. The convergence of multiple, independent secondary reports on the same specific fact, attributed to the same primary data provider, provides a strong basis for concluding the statement is true.
Summary

Ethereum stablecoin transfer volume reached over $8 trillion in the fourth quarter of 2024, according to Cointelegraph. This sets a new historical record for the network and reflects increased usage of stablecoins for on-chain transactions.

Terms & Concepts
  • Stablecoin: A cryptocurrency designed to maintain a stable value by pegging to reserve assets such as the U.S. dollar.
  • On-chain transfer volume: The total value of assets moved on a blockchain over a specific period.
  • Ethereum network: A decentralized blockchain supporting smart contracts and asset transfers.