While transfers of NFT (nonfungible tokens) have outperformed altcoin and stablecoin transfers, the stock of WBTC (wrapped) remains relatively flat since last year.

These are just two key findings from the most recent research State of the Network UpdateFrom Coin Metrics. This article explains how ERC-721 transactions overtook stablecoins, altcoins, and Ethereum on July 1, and have increased the gap between them since then. ERC-721 represents the Ethereum token standard for non-financial transactions (NFTs).