Domestic stablecoin transactions surpass 81 trillion… Tripled in one year

It was revealed that in the first half of this year, Stablecoin transactions in major domestic cryptocurrency exchanges increased explosively. According to Maeil Business Newspaper, the transaction amount of Stablecoins (USDT, USDC) in the top 5 Won exchanges such as Upbit, Bithumb, Coinone, Korbit, and GOPAX amounted to 59,125.3 million Dollars, approximately 80 trillion 819.2 billion Korean Won. This is an increase of 188.3% compared to the first half of last year, and the transaction volume has almost tripled in just one year.

In the first quarter of this year, when the cryptocurrency market was strong due to events such as the inauguration of President Donald Trump in the United States, Stablecoins worth approximately 42,195.98 million Dollars were traded domestically. However, in the second quarter, as the Bitcoin price stagnated, the transaction amount of Stablecoins also plummeted to 16,929.32 million Dollars, a decrease of 59.88% compared to the previous quarter.

This volatility shows that Stablecoins are being used as a short-term risk-avoidance tool and a standby liquidity asset. It also suggests that the utilization of Stablecoins is rapidly expanding among domestic investors.