ccording to a recent data in November, the global market capitalization of stablecoins has reached approximately $190 billion, which is an absolute record for this indicator since April of this year. This shows the market cap has rizen for the last 14 months and was approximately 10% up from the previous months in October.
Tether's Dominance
Tether (USDT) one of the largest and oldest stable coin in the crypto market Is still on top and rose by 10.5% to $133 billion, occupying 69.9% of the sector. USDC Circle the second largest stable coin in market caps also increased by 12.1% and was equal to approximately $38.9 billion dollars
Trading Dynamics
The trading volume of stablecoins in centralized exchanges increased by 77.5%, monthly at approximately $1.81 trillion. Out of total trading volume, USDT accounted for the largest trading share, which stood at 82.7%.
Future Outlook
The stablecoin industry is still developing mainly due to the attantion of institutions and better regulation. Given the multiples applications the market is alreadi witnessing, stablecoins are presented as a foundational pillar for digital finance.
Key Takeaway
For stablecoins specifically, the continued trading volume and market expansion of stablecoins highlights steadily the investment community’s trust in stablecoins as a stable digital currencies and asset class with potential for further expansion in the global financial market.
