Report: Stablecoins dominate spot market trading pairs, accounting for over 80% by 2025 According to the report "From Billions to Trillions: Stablecoins Use Cases Expected to Expand the Market" released by The Block Research, as of 2025, stablecoins have become the most important valuation asset in the cryptocurrency spot market, accounting for over 80% of total trading volume. Compared to the trading pattern dominated by BTC and the US dollar ten years ago, this shift highlights the core position of stablecoins in the current cryptocurrency ecosystem.