January witnessed a significant increase in stablecoin trading volume on centralised exchanges (CEXs), rising by 4.54% to a record $1.04 trillion, the highest since December 2021. This upward trend is expected to continue, with $757 billion already traded by February 16th.

• TetherUSD (USDT) maintained its position as the leading stablecoin by trading volume, capturing 75.3% market share among the top 10 stablecoins.
• Spot trading volume for Bitcoin (BTC) pairs on CEXs soared by 23.1% to $510 billion in January, following the approval of spot Bitcoin ETFs in the US.
• The market capitalisation of USDT reached a new all-time high of $97.3 billion in February, reflecting a 1.23% increase with a 70.6% market share.