The post The Battle For Stablecoin Dominance: USDC Dethrones USDT! appeared first on Coinpedia Fintech News
The two largest stablecoins by market capitalization, Tether’s USDT and Circle’s USDC, continue to compete for dominance in the market. As of recently, USDC has dethroned USDT in terms of transfer volume, according to an on-chain statistical study conducted by Glassnode.
Specifically, USDC transfer volume has averaged above 15 billion for the past three months, whereas USDT transfer volume has averaged below 5 billion during the same period. Notably, Tether’s USDT has lost one of its major customers, FTX and Alameda, which has contributed to a decrease in its transfer volume.
Despite this, Tether’s USDT has maintained its position as the top stablecoin in terms of market capitalization and daily trading volume.
According to market data provided by Binance-backed Coinmarketcap, USDT has a market capitalization of approximately $66,280,561,302 and a 24-hour trading volum
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