According to current data (August 2024), USDC’s share among total stablecoins is around 20-25%. This ratio may change from time to time due to some recent fluctuations. However, overall, USDC maintains its position as the second largest stablecoin after Tether (USDT).
This steady growth in USDC’s market share can be attributed to its strong stance on reliability and transparency. Regular audits and full backing of reserves with US dollars or equivalent assets increase investors’ confidence in USDC.
In addition, the fact that USDC can be used on different blockchains is a factor that increases its adoption and therefore its market share. Being included in popular networks such as Solana, Avalanche, TRON, as well as the Ethereum network, brings USDC to a wider user base.
Frequently Asked Questions About USDC?
How does USDC maintain its value?
USDC is a stablecoin backed entirely by phone number list reserves. This means that for every USDC token, there is one US dollar or equivalent asset held in the real world by trusted institutions. Regular audits ensure the adequacy of these reserves.
What can I use USDC for?
You can use USDC coin for many purposes, including cryptocurrency trading, international payments, lending/lending on DeFi platforms, and portfolio diversification.
What are the advantages of USDC?
The main advantages of USDC include its stable value, high liquidity, transparency, reliability, and usability on different blockchains.
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