Coinspeaker
Demand for USDC Stablecoin Skyrockets after FTX Collapse
Following a series of events that took place in 2022, it appears that the Circle-issued USDC stablecoin has suddenly found itself to be a favorite option among crypto users. According to a data report by blockchain analytics firm Glassnode, the USDC now sees a daily transfer volume of up to four or five times that of major competitor Tether USDT. That’s despite the USDT maintaining its status as the largest stablecoin by market capitalization.
Per the data, USDC has a transfer volume of $15 billion as opposed to that of USDT which is $3 billion. Altogether, USDC’s total transfer volume is $7 trillion more than USDT’s.
What Drives USDC Stablecoin Adoption?
It might be important to note that stablecoins are generally the easy choice for crypto investors. Particularly at a time like this, when market volatility remains at its highest. For some reason, however, USDC seems to be enjoying most of the attention. So, it
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