News View Non-AMP

Investor Demand Fuels Circle’s USDC Surge, Tether Left Behind

Published by
Qadir AK

The winds of change are sweeping through the cryptocurrency market, promising a bullish era as it steps into a new phase of its market cycle. Amid this transformative journey, the USD Coin (USDC), the second-largest stablecoin by market cap, has emerged as a towering force, scaling remarkable heights.

Buckle up as we delve into the riveting resurgence of USDC, where liquidity takes center stage, outshining its coin competitors.

USDC’s Meteoric Rise

Since December 1, 2023, the USDC has not just grown; it has skyrocketed, experiencing a formidable surge of 14.3%, equivalent to an impressive $3.5 billion. This surge propels its total market cap to a commanding $28 billion, leaving its largest stablecoin counterpart, Tether (USDT), trailing behind with an 8.7% growth during the same period.

Understanding the Catalysts

Analysts attribute the meteoric rise of USDC to the surge in both retail and institutional demand within the cryptocurrency market. A notable catalyst in this upward trajectory is the launch of spot Bitcoin ETFs in the United States, a move that has orchestrated significant capital inflows into the stablecoin.

Also Read: Tether to Soon Be Controlled by US Authorities? JPMorgan Sounds Alarm

USDC’s Global Reach

Beyond the shores of the United States, USDC is making waves on the global stage. Remarkably, the stablecoin has notched up a 5x increase in its share of spot and derivatives activity, accounting for a modest 4% of total centralized exchange volumes worldwide.

The symbiotic partnership between USDC issuer Circle and crypto exchange Coinbase stands as a linchpin in the resurgence of this stablecoin. The ripple effects of Coinbase’s international expansion, coupled with the strategic relisting of USDC trading pairs on Binance, have further fueled the soaring ascent of USDC.

Correlating with the Bitcoin Rally

USDC’s resurgence can be correlated with Bitcoin’s rally, primarily driven by strong U.S. investor demand. USDC tends to be more popular among U.S. traders, while Tether dominates in regions like Asia, Africa, and Latin America, particularly on offshore exchanges like Binance.

Are you bullish on USDC? Let us know your perspective and join the discussion.

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

Recent Posts

Bitcoin Price Prediction 2025, 2026 – 2030: When Will BTC Hit $100k?

Story Highlights The Bitcoin price today is . The BTC price could hit a maximum…

April 23, 2025

Bloomberg’s McGlone Warns Bitcoin & Dogecoin Might Be Headed for Major Price Crash

Mike McGlone, Senior Commodity Strategist at Bloomberg Intelligence, has spotted something interesting and possibly worrying.…

April 23, 2025

Top Altcoins Poised to Surge as Bitcoin Dominance Weakens

The cryptocurrency market has surged by 4.7% in the last 24 hours, with top altcoins…

April 23, 2025

Pi Network Price Prediction 2025, 2026 – 2030: Why Is Pi Coin Dropping?

Story Highlights The Pi Network price today is PI price could reach a maximum value…

April 23, 2025

Can XRP Outperform Bitcoin in 2025?

Excitement around XRP is building, with experts, analysts, and even ETF issuers hinting at bullish…

April 23, 2025

Ethereum Price Prediction 2025, 2026 – 2030: ETH Bull Run to Start in May?

Story Highlights The Ethereum price today is . ETH price with a potential surge could…

April 23, 2025