Categories: Market

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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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

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