FX.co ★ Stablecoins transaction volume soars 10 times

According to Diar experts, the number of transactions of four major stablecoins, USDC, TUSD, GUSD and PAX, increased by a record 1,032 percent in November of the current year.

According to expert estimates, the total volume of transactions of these stablecoins reached $2.3 billion. This indicator crossed the $5 billion mark within just three months.

Diar noted that PAX became the most popular stablecoin. Developers of the Paxos startup, on the basis of which this token was created, managed to raise $93 million. Currently, PAX transaction volumes are twice as high as the USDC cryptocurrency. A slight decline was demonstrated only by TrueUSD created by TrustToken. Tether (USDT) still holds the fifth place in terms of popularity, Diar emphasizes.

Analysts believe that the outgoing year can rightly be called the year of stablecoins. Diar reminds that USDC, TUSD, GUSD, PAX, and others were created in 2018.