a16z: Stablecoin Annual Trading Volume Reaches $46 Trillion, 20X PayPal

BlockBeats News, October 23rd, a16z's "State of Crypto 2025" report pointed out that the crypto market is still expanding and showing a "price-developer-user" feedback loop feature.

Crypto usage is global, but the region with the fastest-growing on-chain activity comes from developing countries; developers are most active in the Ethereum (including L2), Solana, Bitcoin, and other multi-chain ecosystems. Furthermore, stablecoins have become a widely discussed topic, with an annual transaction volume of $46 trillion, 20 times that of PayPal, and 3 times that of Visa.