ARK Invest: Stablecoin growth slowed after October market shock

ARK Invest stated in a quarterly report that while the total stablecoin supply exceeded $300 billion at the end of last year, overall growth has slowed since a market volatility shock in October. The report, cited by The Block, noted that although DeFi's role as a payment and transaction layer for cryptocurrencies continued to expand in the fourth quarter, the shock led to a redistribution of activity across networks and products. During that period, the Base network led in stablecoin transaction volume with around $3 trillion, a 121% increase from the previous quarter, followed by Ethereum and Tron.