In April, the monthly USD-pegged stablecoin volumes nearly matched the previous month's levels, despite First Digital USD (FDUSD) achieving its highest volume ever, surpassing $18 billion. This surge in FDUSD activity, more than doubling March's figures, was attributed to its prominence on Binance, contributing to its ongoing adoption. Conversely, Tether's USDT, the largest USD stablecoin by supply, experienced a decrease in volume, dropping to $205 billion from $243 billion in March. As a result, April's stablecoin volumes totaled $546 billion, slightly lower than March's peak of $587 billion, marking the highest monthly level in a year.
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