According to Growthepie data, despite the market volatility, the market value of L2 stablecoins has been growing steadily, with Arbitrum’s stablecoin market value exceeding $4 billion, ranking first, with an annual increase of 116%. Base’s stablecoin market value exceeded $3 billion, ranking second.

In addition, the market value of ZKsync stablecoin is US$70 million, down 48.2% for the whole year.