November was a notable month for stablecoin activity, network data shows.
According to data collected by The Block Research, the total amount for adjusted on-chain stablecoin volume reached $139.21 billion in November — almost $6 billion shy of the all-time high for such activity in September.
Tether (USDT) comprised the lion’s share of November’s volume, at 77%, followed by the USDC (16.8%) and Binance USD (4.5%).
MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.
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