According to a report released by CCData on November 27, the trading volume of stablecoins has increased significantly by 77.5% this month, rising to $1.81 trillion as of November 25. This growth is expected to set a new annual high for monthly trading volume on centralized exchanges.

The report states that continuing a 14-month upward trend, the total market value of stablecoins rose by 9.94% in November, reaching $190 billion, surpassing the historical high of $188 billion set in April 2022 before the collapse of TerraUSD. Despite this growth, as investors and traders have diversified their investments into Bitcoin (BTC) and altcoins, market dominance has decreased from 7.22% in October to 5.54%.