East Asia continues to be the world’s largest cryptocurrency market—but it isn’t just Bitcoin that’s driving the industry.

Stablecoin usage in the region is actually what is “off the charts,” accordin...g to a report published today by blockchain analysis firm Chainalysis.

The report, “East Asia: Pro Traders and Stablecoins Drive World’s Biggest Cryptocurrency Market,” claimed that 33% of all value transacted on-chain (meaning the value of transactions occurring on the blockchain) comes from stablecoins. And Tether is the biggest player: in June, it beat Bitcoin to be the most-received cryptocurrency by East Asia-based addresses.


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