PANews reported on November 28 that according to Cointelegraph, according to CCData's report on November 27, as of November 25, the monthly stablecoin trading volume increased sharply by 77.5% to 1.81 trillion US dollars. This growth makes the monthly trading volume of centralized exchanges expected to hit a new annual high.
The total stablecoin market capitalization continued its 14-month upward trend, increasing by 9.94% in November to $190 billion, surpassing the all-time high of $188 billion before the collapse of Terra's TerraUSD algorithmic stablecoin in April 2022. Despite the growth, the market share of stablecoins fell from 7.22% in October to 5.54% as investors and traders increased their diversified investments in Bitcoin and altcoins.
USDT continued to show strong performance, with its market capitalization increasing by 10.5% to $133 billion. USDT accounts for 69.9% of the overall market, followed by Circle's USDC, whose market capitalization increased by 12.1% in November to $38.9 billion, the highest level since February 2023. Ethena Labs' USDe also showed growth momentum, with its market capitalization increasing by 42.2% to $3.86 billion.
