Stablecoin transaction volume surpassed $1 trillion

Total on-chain value transferred through stablecoins surpassed $1 trillion in 2020, according to The Block.

In 2019, the figure stood at $248 billion — 3.22 times lower. This growth signals rising demand for moving assets with stablecoins.

Data: The Block.

Tether (USDT) continues to lead with 73% of total volume, with USD Coin (USDC) and DAI in second and third places at 15% and 7%, respectively.

The most used blockchain for moving stablecoins remains Ethereum — coins issued on the protocol of the second-largest cryptocurrency account for 83.5% of all transactions. Tron and Omni follow with 14.5% and 2.1%, respectively.

In December, the total market capitalization of stablecoins exceeded $25 billion. As of publication, according to CoinGecko, this figure stands at $27.4 billion

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