Home NewsStablecoins USDC’s Impressive Growth: Fueling the Crypto Market’s New Phase

USDC’s Impressive Growth: Fueling the Crypto Market’s New Phase

by dave
1 minutes read

The world of cryptocurrency is buzzing with excitement as USDC, the second-largest stablecoin by market cap, witnesses a remarkable surge in liquidity and adoption globally. This uptick is particularly notable following the recent launch of spot bitcoin ETFs in the U.S., marking a significant shift in the crypto landscape.

Since the dawn of December, USDC’s supply has swelled by an impressive 14.3%, translating to over $3.5 billion. This leap has pushed its total market capitalization to a whopping $28 billion. In contrast, its rival, USDT (Tether), experienced a more modest growth of 8.7% during the same timeframe.

This increase in USDC liquidity is a clear sign of heightened demand from both retail and institutional investors, signaling fresh capital inflows into the crypto market. Stablecoins like USDC, typically pegged to stable assets like the U.S. dollar, play a crucial role in providing stability and trust in the otherwise volatile crypto markets.

Beyond the U.S. shores, USDC is rapidly expanding its footprint, making significant inroads into international markets. It’s remarkable to see its share in spot and derivatives trading activities jump fivefold, now accounting for 4% of total centralized exchange volumes globally.

Contributing to this growth spurt are several key developments, including the launch of Coinbase’s international exchange and the re-introduction of USDC trading pairs on Binance. With Circle, backed by Coinbase, at the helm of USDC, the stablecoin’s trajectory seems set for further expansion.

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