USDC is more popular than USDT on the Ethereum blockchain
There is a lot of competition between stablecoins. And now, it seems, the victory is for USDC.
Since the collapse of Terra (LUNA), users of the cryptosphere have been watching stablecoins with caution. However, when the cryptocurrency market crashed, investors began to actively transfer their assets to stablecoins.
Initially, USDT was the leader among stablecoins. Its volume in the market has reached a record level. In many ways, thanks to the work on several blockchains. However, to date, the volume of transactions in USDC made on the Ethereum blockchain exceeds the volume of USDT.
Over the past 24 hours, the amount of transactions in USDT amounted to $474 million, and in the USDC stablecoin, the volume amounted to $1.2 billion, according to Messari analysts.
According to Coinmarketcap, stablecoin Tether (USDT) was worth $67.4 billion and Circle (USDC) was worth $55.67 billion over the same period. The dominance of the first cryptocurrency is still observed due to the volume of transactions in the TRON blockchain due to low fees. They are 10 times more in volume than USDC.
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