Posted 2/27/2024, 11:22:00 AM
USDC Stablecoin Soars 14% Since December as Crypto Demand Picks Up
- USDC supply has increased over 14% since early December, reflecting fresh capital inflows after US bitcoin ETF launches
- The stablecoin's liquidity and usage are growing rapidly outside the US, with non-US market share increasing 5x
- Growth partly driven by Coinbase's international exchange and USDC relisting on Binance
- USDC now has $28B market cap, though USDT still dominates at $98B
- Increase shows pickup in retail and institutional crypto demand, marking new market cycle phase