The stablecoin market has reached a significant milestone, with over 200 trackable stablecoins across 37 blockchains, including 35 EVM chains, Solana, and Tron, according to Dune data. The total market capitalization of stablecoins now exceeds $320 billion, with non-USD stablecoins accounting for $2.4 billion. Centralized exchanges (CEXs) hold $80 billion in stablecoins, making them the largest category of identified labeled addresses. In January 2026, stablecoin monthly transfer volume surpassed $10 trillion, marking the highest monthly volume since April 2022. Notably, decentralized exchange (DEX) liquidity pools contributed 56% of this activity, highlighting the growing role of DEXs in the stablecoin ecosystem.