Holding Dollars, Moving Dollars: The Two Economics Inside One Stablecoin Market > Stablecoin payments rose 45% year over year to $482B in the first nine months of 2026. > Total supply was roughly flat, up 0.4%, so the same dollars are moving more often. > Stablecoin growth in 2026 has come from more payments rather than more supply, which favors payment operators that earn fees on each transfer over issuers that earn interest on reserves👇
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