USD-backed stablecoins continue to dominate the crypto market. Nearly 90% of all crypto transactions are executed using USD-backed stablecoins relative to USD. Their average weekly volume in 2024 is $ 270 billion which is 70 times higher than their counterparts in the European Union.

In contrast, only 1.1% of all transactions were made using Euro-backed stablecoins. However, it is worth noting that this share has increased from near zero in 2020 and is currently at an all-time high.