The USDC stablecoin has reached $50 billion in its capitalization.
The creator and CEO of the company “Circle” Jeremy Ellair said: starting in 2019, the USDC stablecoin has risen in market capitalization by 10,000 percent and reached $ 50 billion.
The CEO of this company left a message on Twitter: at the moment, Circle is winning the market from Tether, and the USDT stablecoin has reached $ 50 billion and is carrying out further growth. The total volume of this currency is approximately $ 177 billion, which is approximately 9.7 percent of the total volume of cryptocurrencies in the market space. There was an increase in USDT stablecoins to 29 percent, and the general dominance of USDT is characterized by a decrease to 45 percent. For example, February 2021 is characterized by 74 percent for the Tether currency, and 16 percent for the Circle currency.
In 2021, the USDT stablecoin increased its market share by 987 percent. The cryptocurrency of the company Tether showed three times less growth — 275 percent in 2021.
Allaire notes that last year was characterized by the registration of more than 4.6 million points with activity and the transfer of more than 2.5 trillion dollars in the space of the stablecoin cryptocurrency. This currency performs its work through interaction with 8 different blockchains, has the ability to work with more than two hundred protocols on the market of 180 states and 34 different exchanges for cryptocurrency transactions. At the moment, Tether is still characterized by leadership in the stablecoin cryptocurrency market, but Circle, which in turn is supported by Goldman Sachs, is characterized by the displacement of Tether from the market space.
2021 was characterized by the statement of P. Johnson as a partner of Jump Capital, which carries out investment processes in the areas of financial technologies and cryptocurrency transactions. He said that the key market rise of the stablecoin cryptocurrency will be created through UST/USDC, which will occur together with the displacement of USDT from the market. Circle Company will increase projects that have USDC support. For example, in the fall of 2021, a stablecoin was launched on the Hedera Hashgraph platform. Next, Circle launched the USDC stablecoin on the Avalanche platform.
