USDC flips Tether on the Ethereum network
The total supply for USDC on Ethereum has surpassed that of Tether, putting USDT in second place on Ethereum for the first time. Circle’s USD Coin (USDC) has reached a major milestone by surpassing Tether (USDT) in total supply on the Ethereum network.USDC’s current supply on Ethereum as of writing is 40.06 billion tokens, just ahead of USDT’s supply of 39.82 billion. Tether has been the most popular stablecoin since at least 2016, after originally sharing the market with BitUSD and NuBits (USNBT) stablecoins when it launched in late 2014. At that time, USDT ran on Omni. As the latter two....
Related News
There are have always been tussles recently between the top two most popular stablecoins, USD Coin (USDC) and Tether (USDT). But recently, USDC is creating a notable milestone as it out-runs Tether on the Ethereum network in terms of the total supply. Since 2016, Tether seems to be the top stablecoin, ranking the most popular. This is after its market sharing with BitUSD and NuBits (USNBT). From its launch in 2014, Tether operated on Omni. However, it later emerged in the limelight as BitUSD and NuBits lost their shedding users and dollar peg, which threw them into obscurity. Related....
The stablecoin market has undergone a shakeup as USD Coin (USDC) has overtaken USD Tether (USDT) on the Ethereum blockchain. USD Coin Supply On Ethereum Is Now More Than Tether As per the latest weekly report from Arcane Research, USDC has now become the largest stablecoin on the ETH chain, surpassing USDT. A “stablecoin” is a type of crypto token that has its value tied to a fiat currency. Due to this fact, these coins don’t suffer from much volatility, hence their name. Though it must be mentioned that their value isn’t actually fixed, any depreciation or....
The growth of USDC in 2021 is more tremendous than that of Tether. The Ethereum-based USDC stablecoin is gaining immense traction as the experts deem it as the most dominant asset. In coming weeks it is very likely USDT’s share of the stablecoin supply on Ethereum will fall below 50% for the first time. USDC […]
At least on the Ethereum network, USDC real volume has nearly doubled that of USDT in the past 24 hours which could be another sign that the top stablecoin's dominance is coming to an end. USD Coin is taking a run at the title of the top stablecoin in crypto after its daily ‘real volume’ on the Ethereum network doubled that of Tether’s USDT on Tuesday. According to crypto market data tool Messari, Circle’s USDC posted $1.1 billion in daily real volume on the Ethereum network on June 21, which was double USDT’s real volume of $579 million.Messari’s real volume metric is calculated by....
Tether supplies on Ethereum are dwindling as USD Coin demand grows and grows. USDC has grown much faster than Tether (USDT) in 2021 and it is emerging as the dominant stablecoin on Ethereum thanks to its popularity in DeFi according to Messari.Research by the analytics firm revealed that the demand for USD Coin has grown so much that it has consumed a large chunk of Tether’s market share this year. Researcher Ryan Watkins predicted that in the coming weeks, this could result in Tether' share of the stablecoin supply on Ethereum falling below 50%. He added that over half of the total USDC....