Despite the prevailing caution in global financial markets, Matrixport’s latest analysis reveals steady growth in stablecoin inflows, indicating that stablecoins continue to gain ground quietly.
It remains on a steady upward trajectory, not accelerating at the breakneck pace of previous bull runs.
Matrixport’s April 15 chart shows that capital flows into the stablecoin segment even as equity and bond markets face increasing uncertainty.
These flows, particularly into giants like Tether (USDT) and Circle’s USD Coin (USDC), point to a growing user base and broader institutional interest.
While analysts acknowledge this momentum alone may not be sufficient to spark a dramatic altcoin rally, it is nevertheless a strong indicator that crypto is evolving into a more uncorrelated and potentially independent asset class.
Rising Wallets, Rising Use Cases
Matrixport’s findings follow a March report from Artemis and Dune, which detailed explosive growth in stablecoin adoption.
According to the report “The State of Stablecoins 2025,” active stablecoin wallets increased by 53% year-over-year, from 19.6 million in February 2024 to 30 million in February 2025.
Institutional participation is a major driver. Companies increasingly utilize stablecoins for real-time payments, settlements, and yield generation in DeFi protocols.
The report also pointed to a significant increase in stablecoin supply, which jumped from $138 billion to $225 billion within a year, a 63% rise.
Monthly transfer volume more than doubled, hitting $4.1 trillion in February 2025 compared to $1.9 trillion the year before, with a peak of $5.1 trillion in December 2024.
These numbers paint a picture of growth and diversification. While average transaction sizes stayed relatively stable, occasional spikes suggested large-scale institutional activity.
The dual use case, for both retail and whales, has made stablecoins a flexible tool in modern finance.
Solana, Tron, and the Global Surge
Zooming out, the broader blockchain growth tells a story of rapid development and regional adoption.
Following the November U.S. presidential election, Donald Trump’s pro-crypto stance revived investor enthusiasm, and stablecoin deposits surged across several ecosystems.
Solana, in particular, witnessed a wave of inflows, with over $1 billion in USDC deposits recorded in December 2024 alone.
Solana’s total value locked (TVL) reached $8.57 billion by January 2025, marking a sixfold increase since the beginning of 2024.
Tron, meanwhile, stole the spotlight in February 2025 with a staggering $824.5 million increase in stablecoin reserves in just one week.
Its dominance in emerging markets, low fees, and strong presence in payment infrastructure have made it a preferred network for USDT transactions.
Other Ethereum-compatible chains, such as Base, Polygon, and Optimism, also posted stablecoin inflows.
Conversely, Avalanche and TON faced significant losses, $506 million and $280 million in stablecoins, respectively.
Despite its foundational role in DeFi, Ethereum saw a $208 million outflow during the same period, hinting at liquidity rotation toward more agile or cost-effective networks.
For this month, SUI seems to be the leading blockchain.
The most telling thing is the increasing reliance on stablecoins in emerging markets.
Chainalysis and Visa-backed research data indicate stablecoins outpacing Bitcoin in key regions like Africa, Latin America, and Southeast Asia.
In these areas, stablecoins are used for savings, remittances, and business transactions in countries grappling with currency devaluation and unstable financial systems.
A survey conducted in Nigeria, Indonesia, Turkey, Brazil, and India found that stablecoins are central to financial inclusion.
For millions, these assets represent the first step toward digital finance, offering stability and access to something often lacking in traditional banking systems.
Matrixport’s latest data may not predict the next bull run, but it adds to a growing chorus of signals pointing to the crypto ecosystem’s maturity.
As geopolitical tensions rise, stablecoins continue gaining traction as digital dollars and financial empowerment tools.
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