USDC up 54% as market cap hits $ 30 billion
Bitcoin magazine reported on Tether (USDT) growth as its market cap rose 1,500% in 532 days to hit nearly $ 70 billion at press time. With that, the capitalization of the decentralized stablecoin DAI issued by the Makerdao project has increased by more than 800% in 12 months from 696 million US dollars to 6.3 billion US dollars.
As the second largest stablecoin, the USDC’s market cap rose $ 10 billion in just 4 months to $ 30.9 billion, up 54% since May 23 and 14.1% in 30 days. This stablecoin is issued by the Center Consortium under the direction of Circle Financial and Coinbase is also a member of the Center Consortium.
The market capitalization of USDC is about $ 20 billion as of May 23, 2021 and is currently about $ 30 billion
USDC market capitalization represents 1.5% of the total crypto economy
USDC has long been a popular stablecoin used by investors to hedge against volatility, take advantage of DeFi applications, and more. At the time of writing, USDC accounts for 1.56% of total capitalization with a $ 1.970 billion crypto economy.
On Saturday (September 25), USDC trading volume was $ 3 billion. Basically, USDC has very little volatility as it is pegged to the USD, but the price can still fluctuate between $ 0.98 and $ 1.02. On May 8, 2019, USDC was trading at $ 1.17, up 14.6%.
While USDT and USDC are the kings of the stablecoin economy today, many other stablecoins are thriving too. For example, the Wault dollar (WUSD) is up 55.2% in 30 days, the Celo dollar (CUSD) is up 47.4%, and the Pax dollar (USDP) market capitalization is up 26 last month .4% increased.
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According to News.Bitcoin