Recently, the cryptocurrency market has experienced a wave of upward momentum, leading to a strong demand for stablecoin liquidity. Kaiko's market analysis shows that since late October, the cost of borrowing USDT and USDC from Binance has doubled, reflecting increased interest in leveraged positions in both the spot and futures markets📈.

Meanwhile, the market capitalization of stablecoins has reached an all-time high, and borrowing rates on Aave V3 have also risen in November. The market dominance of USDT peaked at 86% in November, then fell back to 80%📊.

Additionally, the trading volume of euro-backed stablecoins surged tenfold over the past month, reaching an annual high, indicating an increased market interest in diversified stablecoins💶.