**[Orbital Report: Retail Stablecoin Market Cools Down, but Real Payment Volume Surges]** According to Golden Finance, Orbital, a payment coordination platform for stablecoins and traditional payment channels, has released its Q3 Retail Stablecoin Payment Index Brief. The index data is sourced from Artemis and primarily tracks "the adoption speed and quality of stablecoins in the retail payment sector." Key findings of the report are as follows: - **Stablecoin deposits surpass $7 billion after Plasma launch, setting a record:** Plasma launched its native token XPL in the third quarter. Within just three days of its launch, the platform's stablecoin deposits exceeded $7 billion, setting a record for deposits on newly launched Layer 1 blockchain networks. - **Binance Smart Chain (BSC) remains dominant in retail transfers but growth slows by 50%:** More mature blockchain networks continue to impact the retail stablecoin business in various ways. Binance's BNB Chain (BSC) maintains its leading position in retail transfers, particularly in low-value, high-frequency payment scenarios, but its growth rate slowed by 50% compared to the previous quarter. - **Aptos, which surged in Q2, enters a plateau phase but maintains high transaction benchmarks in Q3:** The Aptos chain, which experienced a surge in transaction volume during Q2, entered a plateau phase in Q3 but still maintained high transaction benchmark levels. - **Retail stablecoin market cools down, but real payment volume grows:** The retail stablecoin market stabilized in Q3. After a surge driven by incentive programs and promotional activities in Q2, the total number of transactions dropped from 1.33 billion to 1.21 billion in Q3, while daily active users remained steady at 3.6 million. Despite the cooling market, these figures are still significantly higher than early 2025 levels.