Stablecoins are often described as “crypto dollars,” but new data shows most stablecoin activity comes from automated trading, not everyday payments. In fact, a recent study found that retail users account for only a tiny fraction of stablecoin volume. This underlines how crypto markets are driven by trading bots and institutions more than by casual spending.
What happened: A study cited on Binance News (by the Korea Institute of Finance) found that just 0.1% of stablecoin transactions were retail payments. In other words, nearly all stablecoin volume comes from non-retail sources. The report estimated that, as of November 2025, about $5.42 trillion worth of dollar-pegged stablecoins had traded worldwide. Of that enormous volume, only around $7.5 billion was from retail users – the rest (about 77.6%) was generated by automated bots and trading programs. In plain terms, most stablecoins moved in the last year were used by trading algorithms or large financial actors, not by ordinary people buying goods.
Why it matters: This insight helps explain how cryptocurrencies are used today. Many newcomers think stablecoins are mainly for sending money or paying for services. But the data shows that automated trading overwhelmingly dominates stablecoin use. Stablecoins do serve a purpose in crypto – they let traders move in and out of positions in a dollar-like asset – but that role is mostly institutional or algorithmic. For beginners, the lesson is that “crypto adoption” can look very different from how regular folks use money. If bots and exchanges are doing most of the stablecoin transactions, it means that spending crypto in daily life is still very rare. Knowing this can temper expectations and highlight the current gap between crypto’s ideal (as everyday cash) and its reality (a tool for trading). It also implies that any talk about stablecoin regulation or consumer use should keep in mind who’s really active in those markets right now.
Retail users made up only about 0.1% of all dollar stablecoin transactions.
Around 77.6% of stablecoin volume came from automated trading bots, not people.
Total stablecoin transaction volume was roughly $5.42 trillion, but only ~$7.5 billion was retail.
Shows that stablecoins mainly facilitate large-scale trading and liquidity moves, not consumer payments.
Reminder: much of crypto market activity is driven by algorithms and institutions, a key point for new crypto users to understand.
