Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
The share of USDC from Circle in the volume of transactions involving stablecoins rose to 71% in February, while Tether’s USDT share fell to 28%, according to data from Visa’s analytical panel. In January, the ratio also favored USDC: 54% compared to 45%. As of March, the ratio remains consistent with January’s figures.
Related Posts
Prior to the start of the year, Tether’s token was the leader, maintaining the top position since 2019. In terms of transaction volume, USDT still holds a significant advantage, with its share exceeding 71% of the market compared to 28% for Circle’s token.
USDT continues to be the clear leader in market capitalization at $183.2 billion, while USDC ranks second with $79.4 billion. Together, the two largest stablecoin issuers account for over 83% of the market.
Sky’s USDS holds the third position in market capitalization ($8.3 billion), but its usage activity is minimal: over 85% of its issuance is concentrated among just three major holders. A similar situation exists with USD1, issued by World Liberty Financial, a company associated with the family of U.S. President Donald Trump. This token ranks sixth in capitalization, yet more than 80% of its volume is controlled by five largest holders.
Japanese investment bank Mizuho has linked the rise in USDC’s popularity to its active use in payment services, decentralized finance (DeFi), and prediction markets (such as Polymarket). Banking experts stated that the “winner among stablecoins” will be the token that is more frequently utilized for everyday transactions.
On March 17, the market capitalization of stablecoins reached an all-time high, surpassing $316.6 billion. Over the past month, it has increased by nearly 6%, according to data from the DefiLlama platform.
Analysts from the American investment firm Jefferies previously suggested that the market capitalization of stablecoins could exceed $1.15 trillion within the next five years.
