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%.
AUTHOR
MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.
See More
