ChainCatcher Message, TheBlock analyst Lars disclosed on platform X that the on-chain trading volume of stablecoins in November reached $1.17 trillion after adjustment, a month-on-month increase of 30.7%. This significant growth indicates a continued rise in market demand for stablecoins, possibly related to investors seeking safe-haven assets.

At the same time, the issuance supply of stablecoins increased by 12%, reaching a new high of $167.2 billion. Among them, USDT and USDC continue to dominate the market, with market shares of 79.9% and 17.4%, respectively. This demonstrates the strong position of the two major stablecoins in the market, while other stablecoins face greater competitive pressure.

Overall, the increased activity and supply of stablecoins reflect their growing importance in the digital currency ecosystem.