November saw the second-highest adjusted monthly stablecoin volume led by Tether

November was a notable month for stablecoin activity, network data shows.

According to data collected by The Block Research, the total amount for adjusted on-chain stablecoin volume reached $139.21 billion in November — almost $6 billion shy of the all-time high for such activity in September.

Tether (USDT) comprised the lion’s share of November’s volume, at 77%, followed by the USDC (16.8%) and Binance USD (4.5%).