a16z: Annual stablecoin transaction volume reaches $46 trillion, 20 times that of PayPal

ChainCatcher news, a16z released the "State of Crypto 2025" report, which points out that the crypto market is still expanding and exhibits a cyclical feedback characteristic of "price—developer—user." Crypto adoption is global, but the fastest-growing regions for on-chain activity are in 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 annual transaction volume reaching $46 trillion, which is 20 times that of PayPal and 3 times that of Visa.