Stablecoin

PayPal USD

April

USDC

Coin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/usd-coin-surpasses-tether-in-stablecoin-transactions/" data-wpel-link="internal">USD Coin Surpasses Tether in Stablecoin Transactions</a> 
Circle’s stablecoin project USD Coin has managed to surpass <a href="https://en.coin-turk.com/tether-becomes-one-of-the-largest-holders-of-us-treasury-bonds-with-a-72-5-billion-investment/" data-wpel-link="internal">Tether</a>, the world’s largest stablecoin, in stablecoin transactions with a surprising development. According to Visa’s on-chain analysis data, USDC completed 166.6 million transactions in April 2024, overtaking <a href="https://coin-turk.com/tether-gercekten-de-bitcoin-fiyatini-etkiliyor-mu" data-wpel-link="internal">USDT</a>‘s 163.6 million monthly transactions. 
<h2 class="p1" style="text-align: justify" id="impressive-achievement-from-usdc">Impressive Achievement from USDC</h2> 
USDC has been eating into the stablecoin transaction market share since the end of 2023. According to Visa data, in December 2023, USDC’s 145 million monthly transactions surpassed <a href="https://en.coin-turk.com/tether-strengthens-market-position-and-faces-audit-demands/" data-wpel-link="internal">USDT</a>‘s 127 million transactions for the first time. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-345869 size-full" src="https://coin-turk.com/wp-content/uploads/2024/04/visa.webp" alt="" width="1075" height="591"> 
Considering Tether’s market value exceeding $110 billion and accounting for more than 68% of the total stablecoin market share, this development is a significant surprise for industry participants. According to CoinMarketCap data, this makes Tether currently three times larger than Circle’s USDC stablecoin, valued at $33.5 billion. 
In terms of total user numbers, Circle’s stablecoin project is still far behind Tether’s user count. In April 2024, USDT was used by more than 34.2 million unique wallets, while only 9.57 million users opted for Circle’s USDC. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-345868 size-full" src="https://coin-turk.com/wp-content/uploads/2024/04/visa-veri.webp" alt="" width="1180" height="632"> 
<h2 class="p1" style="text-align: justify" id="visa-and-the-stablecoin-market">Visa and the Stablecoin Market</h2> 
According to Visa’s dashboard, four popular stablecoin projects including Paxos Dollar (USDP) and PayPal USD recorded over 352 million transactions in the last 30 days, totaling more than $2.3 trillion in transaction volume. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-345867 size-full" src="https://coin-turk.com/wp-content/uploads/2024/04/stablecoin.webp" alt="" width="1076" height="684"> 
Visa, introduced a stablecoin analysis dashboard in April aimed at simplifying complexity and providing easily accessible and digestible data about four stablecoins across nine blockchain networks. This move has garnered appreciation from crypto analysts and investors alike. 
Stablecoin projects hold a significant place in the cryptocurrency market as they allow investors to quickly enter and exit cryptocurrency positions. According to CoinGecko data, the total market value of stablecoin projects exceeds $161 billion, representing 6.63% of the total $2.43 trillion crypto market. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/usd-coin-surpasses-tether-in-stablecoin-transactions/" data-wpel-link="internal">USD Coin Surpasses Tether in Stablecoin Transactions</a></h5>

USD Coin Surpasses Tether in Stablecoin Transactions

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