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Stablecoin Trading Volume Surges to $1.8 Trillion in November

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According to a report published by CCData on November 27, stablecoin trading volume experienced a significant increase of 77.5% this month, reaching $1.81 trillion as of November 25. This surge could push centralized exchange monthly trading volumes to a record high for the year.

The report highlighted that November marked the continuation of a 14-month upward trend in stablecoin total market capitalization, which rose by 9.94% to $190 billion. This figure surpasses the previous all-time high of $188 billion set in April 2022, prior to the collapse of TerraUSD. Despite this growth, stablecoins’ market dominance dropped from 7.22% in October to 5.54%, as investors and traders diversified their portfolios with Bitcoin (BTC) and altcoins.

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