Stablecoins moved $891 billion in a quarter after exchanges and bots were excluded

Adjusted stablecoin transfers totaled $891 billion in the third quarter of 2026, according to research Coinbase announced Oct. 20. The measure filters out trading infrastructure and automated activity. That was more than four times the $216 billion recorded in the first quarter of 2023. The Block Pro Research conducted the study for Coinbase , which commissioned the work. Its Allium-sourced data provides a benchmark for the scale and growth of transfers beyond the excluded parts of the crypto market.