Stablecoin Industry Surges as USDC Hits $60 Billion Market Cap and Institutional Interest Grows

The stablecoin market continues its explosive growth, with Circle’s USDC hitting a record $60 billion market cap, surpassing its previous all-time high. USDC recorded significant growth over the past three months, adding around $16 billion to its total market cap, according to CoinGecko data. In the same period, USDC outpaced its main competitor, Tether (USDT), which grew by $7 billion. Despite this, USDT still maintains 62% market dominance, per DeFiLlama. Meanwhile, stablecoins are circulating over $208 billion, facilitating more than $4 trillion in transactions, according to a new report by Keyrock and Centrifuge. This represents a 45% increase in circulation compared to the same time last year. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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Stablecoin Industry Surges as USDC Hits $60 Billion Market Cap and Institutional Interest Grows

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