In October, investors invested $608 million in fiat-backed digital currencies.
The lion’s share of capital was attracted by the largest stablecoin Tether (USDT). Its supply increased by almost 2% to $84.98 bln. At the end of September it amounted to $83.22 bln.
The volume of USDT-transactions on 456 crypto exchanges in the last 24 hours amounted to $19.79 billion – this is 27% of the total daily turnover of stablecoins.
The total market capitalization of fiat-backed digital currencies increased from $123.05 billion to $123.66 billion last month.
In contrast, the capitalization of USDC and DAI declined 3% to $24.5 billion and $3.72 billion. The FDUSD token offering jumped 45% to $544.26 million.
The number of active USDT addresses totaled about 400,000 at the end of the third quarter, according to data from the Quicknode platform.
In the first quarter, 317,000 wallets regularly transacted with stablecoin.
That number increased to 450,000 in the second quarter, and it reached 461,000 periodically in the middle of the third quarter.
Analysts used data on stablecoin transactions deployed on the leading blockchains – Arbitrum, Avalanche, Base, Binance Chain, etherium, Optimism and Polygon.