Ki Young Ju, CEO of CryptoQuant, noted that the stablecoin market has expanded substantially from $30 billion in September 2021 to around $166 billion currently.

However, only about 21% of these stablecoins are now held on exchanges, a significant shift from 2021 when over half were stored there.

This change suggests that many stablecoin holders are moving away from using them solely for trading on exchanges.

Instead, they may increasingly view stablecoins as a safe store of value or a convenient tool for cross-border remittances, reflecting a broader trend toward using them beyond trading purposes​