Report: Stablecoin transaction volume increased by 77.5% to US$1.8 trillion in November, and the total market value hit a record high

Odaily News According to a report released by CCData on November 27, as of November 25, stablecoin trading volume increased significantly by 77.5% to $1.81 trillion. The growth puts the monthly trading volume of centralized exchanges on track to hit a new annual high. Continuing a 14-month upward trend, the total market value of stablecoins rose 9.94% in November to $190 billion, a record high. Despite the growth, the market share of stablecoins fell from 7.22% in October to 5.54% as investors and traders increased their diversified investments in Bitcoin and altcoins. Tether's USDT continued to perform strongly, with a market value of 10.5% to $133 billion, accounting for 69.9% of the entire market, followed by Circle's USDC, whose market value increased by 12.1% in November to $38.9 billion, the highest level since February 2023. (Cointelegraph)