Stablecoin

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USDC

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/usdc-stablecoin-sees-impressive-growth-and-international-expansion">USDC Stablecoin Sees Impressive Growth and International Expansion</a><br></p>
<p style="text-align: justify">In a notable development within the <a href="https://en.bitcoinhaber.net/spains-crypto-landscape-rapid-growth-and-regulatory-advances-in-2023">cryptocurrency</a> sector, Circle’s stablecoin USDC is making waves with its increased market valuation and influence in international markets, particularly outside the United States. The stablecoin has demonstrated a strong performance since late 2023, reaching a market valuation of over $28 billion, signaling a period of significant interest and investment in the cryptocurrency.</p> 
<h2 id="report-highlights-usdc-s-market-surge">Report Highlights USDC’s Market Surge</h2> 
<p style="text-align: justify">A recent report from <a href="https://en.bitcoinhaber.net/robinhood-launches-cryptocurrency-trading-app-in-europe">Coinbase</a>, a leading cryptocurrency exchange, highlights the resurgence of USDC, which aligns with its expansion into global markets. A notable 14% increase in market value since December 1, 2023, contributed to its market cap crossing the $28 billion threshold. This comes despite a challenging backdrop for the broader crypto market.</p> 
<p style="text-align: justify">USDC’s journey has not been without turbulence, particularly with the connection to the now-defunct Silicon Valley Bank (SVB). The bankruptcy event in March saw USDC momentarily lose its one-to-one dollar peg, dropping to $0.87. However, the situation stabilized with the normalization of its reserves and entry into new markets, offering a springboard for its recovery and subsequent growth.</p> 
<h2 id="driving-forces-of-usdc-s-emergence">Driving Forces of USDC’s Emergence</h2> 
<p style="text-align: justify">Coinbase’s market maker incentive program, paired with its international exchange, has played a pivotal role in propelling USDC on the global stage. By providing liquidity through spot and perpetual markets, USDC has gained traction, with its re-inclusion on Binance, the heavyweight cryptocurrency exchange by volume, marking another leap in its adoption.</p> 
<p style="text-align: justify">Circle, the company behind USDC, is aggressively pursuing partnerships with financial entities in Asia, including Japan and Singapore. USDC’s growth has notably outpaced that of <a href="https://en.bitcoinhaber.net/tether-treasury-expands-liquidity-with-1-billion-usdt-injection">USDT</a>, the leading stablecoin by market value, though USDT still retains a broader market presence. The enthusiastic reception of USDC worldwide hints at a shift towards greater reliance on crypto assets and their integration into the global financial system.</p> 
<p style="text-align: justify">The substantial growth and global adoption of USDC signify an important milestone for the cryptocurrency industry. It reflects a burgeoning confidence in digital currencies and their evolving significance in financial markets. The forthcoming developments in legal frameworks, especially regarding stablecoins in the US, will be crucial to observe.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/usdc-stablecoin-sees-impressive-growth-and-international-expansion">USDC Stablecoin Sees Impressive Growth and International Expansion</a></h5>

USDC Stablecoin Sees Impressive Growth and International Expansion

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