[vc_row full_width=”stretch_row” css=”.vc_custom_1531732107238{background-color: #fcc118 !important;}”][vc_column]

[/vc_column][/vc_row][vc_row css=”.vc_custom_1531730959461{border-bottom-width: 1px !important;background-color: #f9fafb !important;border-bottom-color: #eef3f7 !important;border-bottom-style: solid !important;}”][vc_column css=”.vc_custom_1531891416301{margin-bottom: 0px !important;}”][bsfp-cryptocurrency style=”widget-6″ align=”auto” columns=”2″ scheme=”light” coins=”top-x-coins” coins-count=”8″ coins-selected=”” currency=”USD” title=”Cryptocurrencies” show_title=”0″ icon=”” heading_color=”” heading_style=”default” bs-show-desktop=”1″ bs-show-tablet=”1″ bs-show-phone=”1″ css=”.vc_custom_1531730265600{margin-bottom: 0px !important;}” custom-css-class=”” custom-id=””][/vc_column][/vc_row]

Does the divergence between USDT and USDC signify a winner in the stablecoin wars?


Quick Take

  • USDT and USDC started roughly simultaneously, back in 2018, and grew in tandem with one another as the crypto market also grew, all the way through to 2022.
  • In May 2022, USDC took a tumble to roughly $50 billion in circulating supply – total amount of all coins ever created/issued – while USDT was at an all-time high of $83 billion.
  • There were talks of USDC flipping USDT and getting within $10 billion of each other in July 2022 due to the collapse of UST.
  • USDC de-pegged on March 11 and since has lost roughly $13 billion in circulating supply.
  • USDT is now $1 billion away from reclaiming a new all-time high in circulating supply.
  • News just emerged that Tether would regularly allocate up to 15% of its net realized operating profits toward purchasing Bitcoin.
Circulating Supply: (Source: Glassnode)

The post Does the divergence between USDT and USDC signify a winner in the stablecoin wars? appeared first on CryptoSlate.

Leave A Reply

Your email address will not be published.