Stablecoins accounted for 75% of Q1 crypto trading volume

According to a CEX.IO report, the stablecoin supply reached an all-time high of $315 billion in the first quarter. Stablecoins constituted 75% of total cryptocurrency trading volume, also a record high. The report noted that USDC supply increased by $2 billion while USDT supply decreased by $3 billion, marking the first clear sign of a reversal between the two since 2022. However, the report also raised concerns about a slowdown in real demand, as the market structure shifts toward algorithmic and arbitrage trading rather than organic demand. This is evidenced by a 16% decrease in personal transfers and bot activity accounting for 76% of trades.