In a groundbreaking development, Circle’s USDC has eclipsed Tether’s USDT in transaction volume, marking a significant shift in the stablecoin landscape. This milestone was highlighted by Visa, leveraging a unique metric developed in collaboration with Allium Labs, aiming to provide a transparent view of stablecoin activities. USDC’s transaction volume hit a remarkable $456 billion last week, dwarfing USDT’s $89 billion, capturing a 50% share of total transactions since the start of the year.
The surge in USDC’s adoption, especially its recent launch in the Japanese market through a partnership with Coincheck Inc., underscores its growing global footprint. This expansion reflects a 12.45% increase in trading volume, reaching $4.85 billion.
This pivotal moment not only signifies USDC’s ascendancy but also hints at evolving preferences within the digital payments ecosystem, potentially reshaping the stablecoin market’s future dynamics.
