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.
If you decide to try your hand at the world of cryptocurrencies, do it with a trusted and reliable partner COINEX.
CoinShark is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. This article is for informational purposes, prepared on the basis of materials and information from open sources . Cryptocurrency is a high-risk asset, investing in it can lead to losses. Readers should do their own research before taking any action.