In November, the encryption stablecoin volume broke through $700 billion, setting a new record.

According to data compiled by Visa, the volume of Stable Coin in November exceeded 700 billion US dollars, setting a new record and approaching the annual transaction level of the payment giant Visa. Among them, Tether’s USDT accounts for 500 billion US dollars, Tron’s on-chain volume reaches 314 billion US dollars, and Ethereum’s volume is 247 billion US dollars. If Stable Coin maintains a monthly growth rate of 700 billion US dollars, it may achieve a volume of 8.4 trillion US dollars next year, comparable to Visa’s 12.3 trillion US dollars in 2023. This rise is due to the low cost and high speed of Tron, while the increase in Stable Coin supply on the Ethereum chain shows the difference in Stable Coin usage scenarios of different blockchains: Tron is more inclined to payment, while Ethereum is more used for DeFi lending. The total market value of the Stable Coin market has also reached a historical high, surpassing $193 billion, further demonstrating its potential in the crypto market and mainstream payment field.