The trading volume of stablecoins has soared to 1.8 trillion US dollars up until November
According to a report by CCData on November 27, as of November 25, the monthly trading volume of stablecoins surged by 77.5% to $1.81 trillion. This increase positions centralized exchanges to potentially reach a new annual high in monthly trading volume.
The total market capitalization of stablecoins continued its 14-month rising trend, growing by 9.94% in November to $190 billion. This surpasses the previous historical high of $188 billion before the collapse of Terra's TerraUSD algorithmic stablecoin in April 2022. Despite this growth, the market share of stablecoins decreased from 7.22% in October to 5.54%, due to investors and traders diversifying their investments into Bitcoin and altcoins.
USDT continues to show strong performance, with its market value increasing by 10.5% to $133 billion. USDT holds 69.9% of the overall market, followed by Circle's USDC, which grew by 12.1% in November to $38.9 billion, reaching its highest level since February 2023. Ethena Labs’ USDe also showed growth, with its market cap increasing by 42.2% to $3.86 billion.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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