Recently, we have seen the successful development of stablecoins on the stage of the crypto industry. Stablecoins have achieved significant success, generating a lot of interest and showing strong growth in 2020. Undoubtedly, Tether remains the leader in terms of supply and demand, but DAI and USDC rushed in pursuit of USDT.
The Algorand Foundation has partnered with cryptocurrency FinTech company Circle to launch the USDC stablecoin on the latter's blockchain. This will allow USDC to leverage Algorand's infrastructure to improve transaction efficiency and promotion opportunities.
The total number of stablecoins in circulation has reached $ 20 billion, and the market value of USDC is $ 2.53 billion, which is 13% of the total number of stablecoins in circulation. The rise in USDC has brought Tether's dominance to below 80%, which has never been the case in the era of modern stablecoins.