PANews reported on December 4 that according to data compiled by Visa, the transaction volume of crypto stablecoins exceeded $700 billion in November, setting a new record and approaching the annual transaction level of payment giant Visa. Among them, Tether's USDT accounted for $500 billion, the transaction volume on the Tron chain reached $314 billion, and Ethereum was $247 billion. If stablecoins maintain a monthly growth rate of $700 billion, they may achieve a transaction volume of $8.4 trillion next year, comparable to Visa's $12.3 trillion in 2023.
This growth is due to Tron's low cost and high speed. At the same time, the supply of stablecoins on the Ethereum chain has increased, showing the differences in the use scenarios of stablecoins on different blockchains: Tron is biased towards payment, while Ethereum is more used for DeFi lending. The total market value of the stablecoin market has also reached a record high, exceeding US$193 billion, further demonstrating its potential in the crypto market and mainstream payment fields.
