In February, traders used stablecoins worth 384.29 billion in trading operations, which indicates an increase in interest in this instrument..
The last month’s indicator is an all-time high and is 26% higher than the previous record recorded in January..
As expected, the largest share of 63.5% came from transactions with Tether (USDT). The second most popular stablecoin was USD Coin (USDC) with 18.7%, and the third position was taken by DAI, which accounted for 9.6%.
With a total market capitalization of Tether of $ 34 billion, in February its turnover exceeded $ 241 billion.Thus, on average, each coin changed hands 8 times in one month..
Stablecoin trading volume exceeded $ 384 billion in February
Crypto industry companies are currently awaiting the release of the updated FATF guidance on the control of digital assets with additions and explanations of their application to stablecoins.
text: Ivan Malichenko, photo: Shutterstock, graphic: The Block