Stablecoin on-chain volume surpassed $300 billion in January
February 4, 2021, 4:31PM EST
1 min read
January saw a significant jump in adjusted on-chain stablecoin volume, according to data collected by The Block Research.
The monthly figure came in at $308.7 billion, exceeding December's record-setting $178 billion. As expected, some $199 billion of the January number came from USDT, the stablecoin operated by Tether that functions across a number of different blockchains, including Ethereum and Tron. USDC accounted for $63.1 billion of the monthly figure.
The Block's Eden Au recently penned a deep-dive into the different types of stablecoins, including those collateralized by fiat currencies or cryptocurrencies. Read his research piece here.