Circle’s USDC Surpasses Tether in Stablecoin Transactions, Visa Data Reveals
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 04 2024
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Source: Coinmarketcap
- USDC Surpasses USDT in Transaction Volume: Circle's USD Coin (USDC) has exceeded Tether's stablecoin in transaction volume, with 166.6 million transactions in April 2024 compared to USDT's 163.6 million.
- USDC Gaining Ground: Since late 2023, USDC has been steadily increasing its presence in the stablecoin transaction market.
- Tether's Market Dominance: Despite USDC surpassing USDT in transactions, Tether remains dominant with a market capitalization over $110 billion and more users.
- Visa's Stablecoin Analytics Dashboard: Visa launched a dashboard tracking stablecoins like USDC, USDT, USDP, and PayPal USD, showing over $2.3 trillion in total transaction volume.
- Role of Stablecoins: Stablecoins are vital in the crypto ecosystem, enabling quick transactions between digital assets; they make up 6.63% of the overall crypto market cap.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
