Global stablecoin real payments account for less than 1%, authoritative experts reveal the three types of trading water content in stablecoins.

Stablecoins, as an important form of virtual currency, their technical characteristics and application chaos are challenging financial order. Recently, the latest statistics provided by market authority experts show that the global scale of stablecoin on-chain transactions is estimated to be around $25 trillion by 2025 after deduplication and virtual processing. Among them, stablecoin transactions with actual payment backgrounds account for less than 1%, with the vast majority of transactions being "water transactions" such as internal institution accounting, on-chain protocol splitting transfers, and speculation on virtual currency exchanges. The data covers 36 mainstream stablecoins on 16 mainstream public chains such as Ethereum, Tron, and Solana. According to the above-mentioned experts, after analyzing the transfer intervals, transaction frequency, fund flows, etc. of stablecoins, it was found that most related transactions do not have actual payment backgrounds, mainly composed of three types of "water transactions". The first is internal institution fund accounting transactions, the second is on-chain protocol splitting transfers, and the third is stablecoins serving as intermediary currencies for virtual currency exchanges.