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# USDC Market Value Goes Beyond $60 Billion, Achieving Record High and Surpassing USDT’s Expansion
The market capitalization of USDC, a stablecoin released by Circle, has achieved an unsurpassed high of $60 billion, exceeding its prior peak of $55 billion in June of 2022. Toncoin (TON) Value Forecast for March 26th
USD Coin (USDC) has denoted a noteworthy achievement, shattering the $60 billion market capitalization hurdle and outstripping its chief rival, Tether (USDT), in expansion over the previous trimester. As per Artemis Analytics, USDC’s supply meaningfully escalated by $16.3 billion throughout this duration, whereas USDT’s supply merely mounted by $4.4 billion. Nevertheless, USDT still reigns over the stablecoin market with a market value of $144 billion.
The upswing in stablecoin movement on Solana (SOL) is a crucial element in this expansion, with the value of stablecoins on the network lately exceeding $10 billion for the initial occasion, mainly attributed to Circle’s USDC. According to DefiLama, USDC presently constitutes almost 80% of Solana’s aggregate stablecoin market capitalization of over $12 billion.
Stablecoins are accumulating acceptance, and administrations globally are commencing to furnish augmented regulatory lucidity for their issuance and utilization. As per CEX.io’s “Stablecoin Landscape” report, the aggregate volume of stablecoin dealings in 2024 surpassed the consolidated volume of Visa and Mastercard by almost 8%. Throughout this duration, the supply of stablecoins expanded by 59%, exceeding $200 billion, propelling the proportion of stablecoins in the aggregate supply of US dollars from 0.63% at the commencement of the year to 1%.
Furthermore, numerous monetary establishments and cryptocurrency service vendors have inaugurated their individual stablecoins. Prominent instances encompass PayPal’s PYUSD, reinforced by US dollar deposits and short-term US Treasury bonds, and Ripple’s US dollar-reinforced RLUSD.
As of late, World Liberty Financial Inc. inaugurated USD1, a stablecoin completely reinforced by US Treasury bonds and cash deposits, initially deployed on Ethereum (ETH) and Binance Smart Chain (BNB).
The main man at Binance, CZ, recently shared his thoughts on the stablecoin landscape, stating, “The more, the better!” He is essentially dismissing worries that USD1 could potentially overshadow major contenders such as USDT and USDC.
His perspective? An expanding stablecoin industry is beneficial for cryptocurrency. They serve as the essential source of liquidity, and an increasing supply indicates a strong investor demand. More stablecoins, greater choice, more crypto enjoyment!
