CoinMeta data: On-chain data shows that the trading volume of all stablecoins has begun to decline. If this trend continues, it may indicate a weakening demand for the entire crypto market (including Bitcoin) globally. Currently, the highest on-chain trading volume record for stablecoins in history was at the end of 2021, when the average daily trading volume exceeded one trillion US dollars, while today this figure is around 138 billion US dollars.