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 three months of this year, the stablecoin transaction volume 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 value of operations with stable coins amounted to $252.3 billion, and, for example, the turnover of the PayPal payment system — $712 billion.

In the first quarter, most of the transactions fell on 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%.

Earlier, we also reported that for all time the Bitcoin network has already processed more than 500 million transactions.
Might be interesting
ConsenSys, EY team up with Microsoft to build an Ethereum-based protocol for enterprise use cases
ConsenSys and Ernst & Young (EY) announced the two firms are developing a new Ethereum-based protocol, dubbed Baseline Protocol, in collaboration with Microsoft.
14 Mar 2020
Read more
Bitcoin price fixed above $13,000 in anticipation of a repeat of last year's price explosion
At yesterday's session, the Bitcoin rate for the third time in a week exceeded the $13,000 mark, according to the CoinMarketCap website. Unlike the “punctures” and rollbacks of previous days, traders managed to gain a foothold above this level, which opens up the opportunity to once again rewrite the annual highs set in the outgoing week.
30 Oct 2020
Read more
Initial capital in Bitcoin trading: experts have named the minimum amount
To begin with, one dollar may be enough on the cryptocurrency market, but in the future, experts recommend investing in digital money at least a thousand, and even tens of thousands of dollars.
11 Sep 2020
Read more