Stablecoin transaction volume exceeded $ 90 billion in Q1 2020

Stablecoin transaction volume exceeded $ 90 billion in Q1 2020

USDT vs USDC vs DAI – Which stablecoin should YOU use in 2021?

Stablecoin transaction volume exceeded $ 90 billion in the first quarter of 2020

Since the beginning of 2020, there has been a significant increase in transactions with USD pegged stablecoins.

According to a study by The Block, in the first three months of this year, the volume of stablecoins transactions amounted to $ 90.4 billion, which is almost 280% more compared to the same period last year, and 8% more than in Q4 2019. The calculation took into account not only transactions related to trading activities, but also the value of assets transferred between wallets.

For the entire last year, the total value of transactions with stablecoins was $ 252.3 billion, and, for example, the turnover of the PayPal payment system – $ 712 billion.

In the first quarter, the majority of transactions fell on the USDT-ETH trading pair and accounted for 62% of the total. The largest increase was recorded in DAI, over the past 3 months its turnover increased by 344%.

Earlier, we also reported that the bitcoin network has already processed more than 500 million transactions over the entire period..

text: Ivan Malichenko, photo: Shutterstock, graphics: The Block