Stablecoin on-chain volumes have crossed the $1 trillion mark this year

Stablecoin on-chain volumes have crossed the $1 trillion mark in 2020, according to The Block Research.

On-chain volumes are any transactions that occur on blockchains. For stablecoin transactions, Ethereum remains the most popular blockchain, having about 83.5% share. TRON and Omni blockchains follow next, with about 14.5% and 2.1% share, respectively.

As for popular stablecoins, Tether (USDT) remains the leader with about 73% share of the on-chain volumes, followed by USDC (15%) and DAI (7%).

The $1 trillion figure has been achieved for the first time, suggesting that stablecoins are growing in popularity. Last year, on-chain volumes of stablecoins were about $248 billion, i.e., 3.22 times less than this year.

Source: Coin Metrics, The Block Research

© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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