PANews, December 4th news - According to data compiled by Visa, the trading volume of cryptocurrency stablecoins exceeded $700 billion in November, setting a new record, approaching the annual trading level of payment giant Visa. Among them, Tether's USDT accounted for $500 billion, with $314 billion in trading volume on the Tron chain, and $247 billion on Ethereum. If stablecoins maintain a monthly growth rate of $700 billion, they could achieve a trading volume of $8.4 trillion next year, comparable to Visa's $12.3 trillion in 2023.
This growth is attributed to Tron’s low costs and high speed, while the supply of stablecoins on the Ethereum chain has increased, demonstrating the different use case scenarios for stablecoins across various blockchains: Tron leans towards payments, while Ethereum is more focused on DeFi lending. The total market capitalization of stablecoins has also reached a historic high, surpassing $193 billion, further showcasing their potential in the cryptocurrency market and mainstream payment sector.
