September 25, 2022

For the first quarter of 2020, the volume of stablecoins transactions exceeded $ 90 billion

For the first quarter of 2020, the volume of stablecoins transactions exceeded $ 90 billion

Since the beginning of 2020, there has been a significant increase in operations with stablecoins pegged to the US dollar.

According to The Block, in the first threeThe volume of stablecoins transactions amounted to $ 90.4 billion, which is almost 280% more compared to the same period last year, and 8% higher than in the 4th quarter of 2019. The calculation took into account not only transactions related to trading activities, but also the value of assets transferred between wallets.

Over the past year, the total cost of operations with stable coins amounted to $ 252.3 billion, and, for example, PayPal payment system turnover - $ 712 billion.

For the first quarter of 2020, the volume of stablecoins transactions exceeded $ 90 billion

In the first quarter, most of the transactionsaccounted for the USDT-ETH trading pair and amounted to 62% of the total. DAI recorded the largest growth; over the past 3 months, its turnover has increased by 344%.

For the first quarter of 2020, the volume of stablecoins transactions exceeded $ 90 billion

Earlier, we also reported that for all time the Bitcoin network has already processed more than 500 million transactions.