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Stablecoin total Market Cap "breaks 1,900 billion US dollars" for the first time, reaching a historical high
With BTC (BTC) and Solana (SOL) hitting new highs last week, the stablecoin sector also achieved a major milestone. According to the latest report from digital asset analysis firm CCData, the total market capitalization of stablecoins surpassed $190 billion for the first time, reaching a historic high.
The CCData report pointed out that the global Stable CoinMarket Cap reached a historical high of $190 billion in November, a rise of 9.94% from October, surpassing the previous peak of $188 billion set in April 2022, marking the 14th consecutive rise in the Stable Coin market.
Since Donald Trump was elected as the President of the United States, the market has generally expected the new government to be more friendly towards the cryptocurrency industry, triggering a surge in the cryptocurrency market in November, and this trend has also led to a significant increase in demand for stablecoins.
According to the report of CCData, Tether (USDT) continues to lead the market with a market capitalization of over $132 billion, a rise of over 10% in November, reaching a new high. The market capitalization of USDC issued by Circle also increased by a difficult 12.1% to approximately $39 billion, the highest level since February 2023.
It is worth noting that among nearly 200 types of stablecoins in the overall stablecoin market, the supply of 38 stablecoins reached a new high in November. Among them, Ethena's USDe Market Cap grew by 42%, reaching 3.8 billion US dollars.
The overall warming of the cryptocurrency market has also led to an explosive rise in the Trading Volume of Stable Coin trading pairs. According to the CCData report, the monthly Trading Volume of Stable Coin trading pairs on Centralized Exchanges reached 1.8 trillion US dollars, a sharp increase of 77% compared to the previous month. Among them, USDT accounted for approximately 83% of the volume, followed closely by FDUSD (9%) and USDC (8%).
The total Market Cap of stablecoins first broke through 190 billion US dollars, reaching a historical high. This article was first published in "Blocklike".