Stablecoin

USDC

Coin

<ul class="news-points">
 <li>Visa’s data shows Circle’s USDC surpassing Tether’s USDT in transaction volume since the start of 2024.</li>
 <li>USDC transacted $456 billion over the past week, capturing 50% of total stablecoin transactions YTD.</li>
 <li>Despite Tether’s dominance in circulation, USDC’s rise suggests a shifting preference.</li>
</ul>
According to data from on-chain analytics provider <a href="https://visaonchainanalytics.com/transactions" target="_blank" rel="noopener noreferrer nofollow">Visa</a> Inc., Circle’s USDC transaction volume has surpassed Tether’s USDT since the beginning of 2024. The latest figures reveal that Circle’s USDC has steadily gained market share year-to-date (YTD).&nbsp;
Over the past week, USDC transacted $456 billion in volume, compared to Tether’s USDT recorded $89 billion. In addition, USDC accounted for 50% of total stablecoin transactions YTD. Notwithstanding, “Visa, which partnered with Circle in 2020, didn’t explain what prompted the uptick in USDC usage,” <a href="https://www.bloomberg.com/news/articles/2024-04-29/circle-s-usdc-takes-lead-in-stablecoin-transactions-visa-says" target="_blank" rel="noopener noreferrer nofollow">Bloomberg</a> reported.
The news outlet further noted that these statistics “defy expectations,” as Tether’s USDT has traditionally been viewed as the dominant industry stablecoin. Per <a href="https://defillama.com/stablecoins" target="_blank" rel="noopener noreferrer nofollow">DefiLlama’s</a> data, USDT holds a market dominance of 68%, in contrast to USDC’s 20%.
Moreover, Noelle Acheson, the author of the Crypto …
The post <a href="https://coinedition.com/circles-usdc-takes-the-lead-in-stablecoin-transactions/" rel="noopener noreferrer nofollow">Circle’s USDC Takes the Lead in Stablecoin Transactions</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Circle’s USDC Takes the Lead in Stablecoin Transactions

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