Coinbase: USDC supply has increased by more than 14% since early December
Coinbase stated in a research report that USDC, the second largest stablecoin in terms of market value, is making a comeback with increased global liquidity and rapidly growing usage outside of the United States, leading to a sharp increase in supply in recent months. Analysts David Duong and Li Liu wrote: "Since December 1, 2023, the supply of USDC has increased by 14.3%, exceeding $3.5 billion, bringing its total market value to $28 billion, while the increase in USDT during the same period was smaller, at 8.7%." USDT is a competitor of Tether, a stablecoin based on the US dollar and the largest stablecoin to date, with a market value of $98 billion.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Texas court dismisses Consensys lawsuit against SEC
The Consensys suit was originally filed in April and included the allegation that the SEC had opened an investigation into Ethereum
Bitcoin is up 6% since the Fed rate cut. What’s next?
Despite short-term boost, Bybit executive warns investors of “potential challenges posed by economic uncertainty and market fluctuations”
Eclipse targets October to launch ‘Solana on Ethereum’ L2
Mastercard and Safaricom team up to improve cross-border payments
Trending news
MoreCrypto prices
More
