Changelly Study Reveals Three Distinct Stablecoin User Behaviors

A recent study by Changelly has identified three distinct user behaviors among stablecoin users. The H1 2026 study found that mixed-asset users, who represent the smallest segment, generated the highest level of platform activity, completing up to 6.2 times more transactions than those who never interacted with stablecoins.

In contrast, stablecoin-focused users completed fewer transactions overall but recorded average transaction values up to 2.5 times higher than the platform average. The study's findings suggest that there is no longer a single type of 'stablecoin user,' as previously thought.

According to Daria Morgen, Head of Research at Changelly, 'Our data shows there is no longer a single type of 'stablecoin user.' Instead, we've identified distinct behavioral patterns that vary by user type, transaction size, and frequency.'

The study also highlights the growing importance of stablecoins in overall crypto trading activity. Stablecoins make up fewer than one in five transactions on Changelly, yet account for nearly half of all trading volume.