Stablecoin on-chain volume surpassed $300 billion in January
January saw a significant jump in adjusted on-chain stablecoin volume, according to data collected by The Block Research.
The monthly figure came in at $308.7 billion, exceeding December’s record-setting $178 billion. As expected, some $199 billion of the January number came from USDT, the stablecoin operated by Tether that functions across a number of different blockchains, including Ethereum and Tron. USDC accounted for $63.1 billion of the monthly figure.
The Block’s Eden Au recently penned a deep-dive into the different types of stablecoins, including those collateralized by fiat currencies or cryptocurrencies. Read his research piece here.
© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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Author: Michael McSweeney
