The post Circle’s USDC Surges Past Tether in Epic Comeback appeared first on Coinpedia Fintech News
As the cryptocurrency market is expected to enter into a bullish era soon as it undergoes a new phase in its market cycle, the resurgence of USD Coin aka the USDC, the second-largest stablecoin by market cap, is gaining significant heights. Recent reports show its impressive surge in liquidity, surpassing its competition coins.
USDC’s Rapid Expansion
Since December 1, 2023, USDC has experienced a remarkable growth in supply, witnessing a surge of 14.3% or over $3.5 billion. This surge has propelled its total market cap to $28 billion, outpacing the 8.7% growth observed in the largest stablecoin, Tether (USDT), during the same period.
Analysts justify USDC’s growth to the overall increase in both retail and institutional demand within the crypto market. The launch of spot Bitcoin ETFs in the U.S. is identified as one of the main catalysts that has significantly contribu
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