Transaction volume in the past 30 days for Tether, USDC, and DAI, has surpassed Visa's 2023 monthly average, according to Nansen.
Crypto's three largest stablecoins — Tether, USDC and DAI — have seen higher volumes in the past 30 days than Visa’s average monthly total from last year, according to onchain specialist Nansen.
"The total for the three at $1.369 trillion is higher than the monthly average for market leader Visa in 2023," said Nansen. That compares to $1.23 trillion, the monthly average of Visa's yearly $14.8 trillion volume in 2023. Nansen’s data showed that Tether alone processed nearly as much in monthly volumes as Mastercard, the second largest card provider in the world. Mastercard’s monthly average volumes were $750 billion in 2023, totaling $9 trillion for the year. Data showed that Tether also outstripped PayPal, which managed $125 billion on average each month last year. In an April report, Visa claimed that Circle’s USDC should be classed as the leading stablecoin in terms of transactions volume.
Transaction volumes for USDC surpass those for USDT when adjusted for the Visa report: Image: Allium data.
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