Stablecoin Trading Volume Soars to $1.8 Trillion in November

Stablecoin trading volume surged 77.5 percent this month, rising to $1.81 trillion as of Nov. 25, according to a CCData report released Nov. 27, an increase that is on track to bring monthly trading volume on centralised exchanges to a new annual high. Continuing a 14-month upward trend, the total market capitalisation of stablecoins rose 9.94 per cent in November to $190 billion, surpassing the all-time high of $188 billion set in April 2022 before the TerraUSD crash, the report said. Despite the increase, market dominance fell to 5.54% from 7.22% in October as investors and traders increased their diversification into bitcoin BTC and torrents.