According to @lightspark, researcher @NChemaya in collaboration with Artemis and Lightspark analyzed on-chain data to distinguish real payment usage from trading and DeFi activity, finding that stablecoins are increasingly used for payments by businesses (source: Lightspark). According to @lightspark, the study concludes stablecoins are becoming a settlement rail for enterprises, indicating that business-driven payment flows are a growing share of stablecoin transactions (source: Lightspark).

According to the source, data from Artemis shows Ethereum added $84.9B in stablecoin supply over the past 12 months, leading all networks by net inflows (source: Artemis). Stablecoins function as the primary quote currency and collateral across centralized and on-chain markets, so rising supply directly increases deployable liquidity for BTC, ETH, and ERC-20 trading and lending (sources: Binance Research, Glassnode). For execution, traders can track USDT and USDC net mint/burn on Ethereum and confirm follow-through via DEX volumes and depth to assess risk-on rotation (sources: Artemis, DefiLlama).

According to the source, Ethereum recorded the largest stablecoin supply inflows in the past 24 hours totaling 995.8 million dollars, source: Artemis. The reading reflects the most recent 24-hour window reported on Oct 20, 2025 in Artemis on-chain data, source: Artemis. Related Ethereum trading metrics available from the same dataset include DEX volumes and gas usage, source: Artemis.