High-Value Transactions of Stablecoins (> $10m)
October 28th, 2024
This year through September, a staggering 54 141 high-value transfers of stablecoins were conducted on-chain.
High-Value transactions on Polygon were the most cost-effective, with $ 3.2 billion moved at an average cost of $ 0.003 per transaction.
The largest stablecoin transaction on the Polygon chain occurred on September 24, totalling $ 172 million and costing the user just $ 0.001.
A substantial 97% of all high-value transactions took place on the Ethereum chain, moving $ 1.9 trillion at an average cost of $ 12.91 per transaction.
The largest stablecoin transaction on Ethereum was executed on March 8, 2024, for $ 1.6 billion, costing the user $ 11.39 or 0.000001% of the transaction value.
Across the seven EVM-compatible chains, the average transaction value was $ 36.4 million, with an average transaction cost of 0.00003%.
The Stablecoins included in this analysis are BUSD, TUSD, DAI, USDC and USDT.
Blockchain technology is making high-value transfers incredibly cost-effective and fast.
