Stablecoin Holdings On Crypto Exchanges Hit A New All-Time High

Amid renewed bullish action on cryptocurrency markets, stablecoins like Tether (USDT) are flooding exchanges to hit a new historical high in terms of allocation.

According to market data provider CryptoQuant, stablecoin holdings on global crypto exchanges broke a new all-time high on Jan. 28, surpassing $4.7 billion.

This amount makes up a significant part of the total stablecoin market capitalization, which is estimated at around $35.2 billion at the time of writing, according to data from CoinGecko. The total trading volume of all stablecoins is now evaluated at around $111 billion, with Tether (USDT) alone making up $103 billion of these volumes.

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