Less than 10% of stablecoin transaction volumes represent genuine user activity, according to a report by Visa and Allium Labs. Only $49 billion of the $2.2 trillion recorded in April is attributed to real users, excluding bots and high-volume traders. Tether (USDT) and USD Coin (USDC) dominate the market with a combined share of 97%. Despite the prevalence of bot-driven transactions, the number of stablecoin users has steadily increased to 27.5 million monthly active users.$BTC