Stablecoin Market Caps Swell Over $7 Billion – Volumes Surpass Most Trading Pairs

While most digital assets have been suffering, stablecoins have been surging since the market downturn in mid-March and tether (USDT) is capturing more than 70% of BTC trades today. Today, more than $7 billion from that number represents eight stablecoins including USDT, USDC, PAX, TUSD, DAI, GUSD, BUSD, and HUSD.

As news.Bitcoin.com noted in our recent report about the influx of stablecoin demand, USDC and PAX have continued to remain in the top five BTC pairs globally. It’s uncertain whether tether is actually doing 22% more volume than BTC, but lots of USDT stats indicate the volume is at least on par with BTC trade volumes regularly.

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