On-chain volumes for stablecoins reached a new monthly high in December

December ended 2020 with the highest adjusted on-chain volume for stablecoins, according to data compiled by The Block. 

The total stablecoin volume for December was $178.34 billion, which is a 20.8% increase from the previous month. December was also $18.16 billion (11.3%) greater than the former high in September 2020. 

Tether (USDT) held 71.2% of the stablecoin volume, followed by USD Coin (USDC) at 16.2% and DAI at 6.4%.