The total market capitalisation of stablecoins rose 0.9% to $129bn (as of Dec 18th), continuing the asset class’s resurgence after adding $4.25bn to their supply in November. This is the highest market capitalisation for stablecoins since May. Stablecoin volumes also continue to trend upwards, with November seeing the highest stablecoin volumes since March.

Key Takeaways

• In November, the total market capitalisation of stablecoins rose 3.43% to $128bn, recording the largest monthly supply increase since February 2022. The market cap is on trend to rise further in December, with the asset class recording a 0.17% increase to $129bn as of the 18th.
• In December, FDUSD's market capitalisation rose 92.6% to $1.63bn (as of Dec 18th), recording a new all-time high for the stablecoin.
• In December, leading stablecoin issuer Tether announced that they have onboarded the DOJ, FBI and the U.S. Secret Service to prevent the illegal use of USDT.