Tether's USDT remains the most dominant stablecoin with USDT as the runner-up but Circle aims to challenge its rival's dominance.
A look at the gap between USDT and USDC, as well as a recent development that could boost USDC in the coming months.in terms of adoption in 2024, confirmation that the latter remained as the most popular stablecoin. But can Circle turn things around in favor of more USDC adoption?
More of it was printed in the last four weeks, raising its marketcap to $136.87 million at the time of writing. Its market cap soared as high as $55.81 billion in July 2024, but this was followed by significant outflows, leading it to dip as low as $24.21 billion by November.USDC has since entered recovery mode, soaring as high as $40.86 billion at the time of observation. In other words, Tether USDT’s latest market cap figure was about 3.3 times more than that of USDC.
Current expectations are that the move could boost market liquidity and enhance stablecoin dynamics. Binance is expected to benefit from the integration in terms of treasury operations.
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