Stablecoins, spearheaded by Tether, are at nearly $10B as transaction volume hits all-time highs

Stablecoins have seen unprecedented growth in the last couple of months; both in terms of demand but also utility. 

Since February 5, the total issued supply has grown by 69.4% — from $5.68 billion to $9.62 billion. The fastest stablecoin growth in history coincides with the global liquidity crunch that started on February 20 stemming from the coronavirus panic. It’s not immediately clear whether the new supply comes from new demand or whether it is existing money that was already on exchanges and is just now being converted into stablecoins.