🚀 #GateNewbieVillageEpisode5 ✖️ @Surrealist5N1K
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The monthly trading volume of Ethereum stablecoins reached a record level of 2.8 trillion dollars.
The trading volume of stablecoins on Ethereum reached a new record in October at 2.82 trillion USD, an increase of 45% compared to September, according to data from The Block. Circle's USDC is leading with 1.62 trillion USD, followed by USDT (895.5 billion USD), while DAI slightly fell to 136 billion USD.
Analysts believe that this surge comes from the search for yield in the context of the cryptocurrency market adjustment, as Bitcoin fell 11.5% and Ethereum fell 16.4% in the month.
Vincent Liu (Kronos Research) noted that investors are using stablecoins to manage liquidity and wait for opportunities to “buy the dip.” Data also shows that stablecoin issuers account for 65–70% of daily revenue in October.
According to Nick Ruck (LVRG Research), this growth reflects a maturing cryptocurrency market, with stablecoins increasingly being used for payments and cross-border transactions.