According to a report published by CCData on November 27, stablecoin trading volume rose sharply by 77.5% this month, reaching $1.81 trillion as of November 25. This increase is expected to bring the monthly trading volume of centralized exchanges to a new high for the year. Continuing a 14-month upward trend, the total stablecoin market cap rose 9.94% to $190 billion in November, surpassing the all-time high of $188 billion set in April 2022 before the TerraUSD crash, the report said. Despite the growth, market dominance fell to 5.54% from 7.22% in October as investors and traders increased diversification into bitcoin BTC and counterfeit products.