Stablecoins & CBDCs Report

Report Summary

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.

Download Report

More Featured Reports

Exchange Benchmark April 2025

CoinDesk's Exchange Benchmark is the industry standard for ranking the risk associated with the digital asset exchange sector. The report is updated twice annually to reflect the fast-changing digital asset landscape and is backed by thousands of hours of research and encompasses more than 100 qualitative and quantitative metrics.

May 7, 2025

Stablecoins & CBDCs Report

CoinDesk Data's Stablecoins & CBDCs Report provides readers with a comprehensive analysis of the latest developments surrounding stablecoins and CBDCs, featuring data-driven insights into market capitalization, trading volumes, peg deviations, regulatory changes, and more.

May 2, 2025

Exchange Review

CoinDesk Data's monthly Exchange Review captures the key developments within the cryptocurrency exchange market. The report includes analyses that relate to exchange volumes, crypto derivatives trading, market segmentation by fees, fiat trading, and more.

April 9, 2025

Stablecoins & CBDCs Report

March 26, 2025

Stablecoins & CBDCs Report

Stablecoins & CBDCs Report

Report Summary

More Featured Reports

Subscribe to Our Newsletter