According to Odaily, data disclosed by analyst Lars on the X platform reveals that the adjusted on-chain transaction volume for stablecoins in November reached $1.17 trillion, marking a significant increase of 30.7%. This surge in transaction volume highlights the growing role of stablecoins in the digital currency market.
In addition to the rise in transaction volume, the issuance supply of stablecoins also saw a notable increase, climbing by 12% to reach a new high of $167.2 billion. This growth in supply underscores the expanding demand and utilization of stablecoins in various financial activities. Among the stablecoins, USDT and USDC continue to dominate the market, holding substantial market shares of 79.9% and 17.4%, respectively.