January sees $237 billion in monthly stablecoin volume thus far, breaking prior record

Stablecoins • January 25, 2021, 12:59PM EST
UPDATED: January 25, 2021, 1:07PM EST
The Block

January has seen more than $230 billion in on-chain stablecoin volume since the start of the month, according to data collected by The Block.

That figure — $237.2 billion as of January 25 — represents the highest monthly amount of its kind, surpassing December's total of $178.3 billion by 33%. 

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USDT (Tether) had seen the majority of that volume at 62.9%, followed by USDC (USD Coin) with 21.0% and DAI with 9.1%.

Readers can find more data about stablecoins, as well as a wide array of crypto-related areas, by visiting The Block's Data Dashboard. 

About Author

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.