Domestic stablecoin transactions have returned to the level before Donald Trump's election as U.S. president.

Stablecoins are mainly used to transfer assets to overseas coin exchanges, and overall demand seems to have plummeted as the market shrinks.

Domestic stablecoin transactions, which had been soaring, have returned to the level before Donald Trump’s election as U.S. president.

Stablecoins are mainly used to transfer assets to overseas coin exchanges, and overall demand seems to have plummeted as the market shrinks.

According to blockchain analyst CryptoQuant on the 31st, the stablecoin (USDT, USDC) transaction value of Korea’s top five Korean won exchanges (Upbit, Bithumb, Coinone, Cobbit, and Gopax) was $89,176,977, the lowest since October 6 last year.

Compared to the all-time high of $1.28 billion, which was recorded on the 3rd of last month, the figure has plummeled by 93%.

At that time, as bitcoin plunged due to the impact of tariffs, demand to transfer assets to overseas coin exchanges to prevent liquidation of futures positions exploded, leading to a surge in domestic stablecoin transactions.

In other words, the transaction price of stablecoins in Korea has returned to the good news of Trump.

With the surge in Bitcoin, there are various investment methods and the demand for investment from various overseas exchanges has increased, but demand has also decreased as the market shrinks.

Some in the industry say this phenomenon proves that the domestic virtual asset exchange has become a springboard for overseas coin exchange transactions.

This is because the stablecoin market continues to grow rapidly overseas, but domestic demand for stablecoins only follows market conditions.

The global stablecoin market is growing rapidly led by the United States.

World Liberty Financial, led by the Trump family, announced on the 25th that it will soon issue USD1, a U.S. dollar-based stablecoin.

USD1 is fixed at the value of $1 and is fully secured by short-term U.S. government bonds, dollar deposits, and other cash equivalents.

It is issued on Ethereum and Binance Chain and is expected to expand to other blockchains in the future.

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