Coinbase reports growing adoption by banks and businesses, even as stablecoin market capitalization remains largely unchanged over the past year.
Stablecoins moved more than $400 million an hour in adjusted transfer volume during the third quarter of 2026, as quarterly activity reached $891 billion, more than quadrupling since early 2023, according to a new report commissioned by Coinbase.
The report found that 73% of screened stablecoin transfer volume occurred outside US banking hours, including nights, weekends and holidays.
Distribution of stablecoin transfer volume by time of day. Source: Coinbase and The Block Research, via Dune Analytics
