USDC’s total stablecoin supply has surpassed $10 billion
USDC — a stablecoin pegged to the U.S. dollar — has exceeded $10 billion in total supply for the first time.
USDC is now the second-largest stablecoin by supply, coming in at $10.7 billion. In addition to Ethereum, USDC also runs on the Algorand, Solana and Stellar blockchains.
Tether (USDT) remains the largest stablecoin by supply, with roughly $40.6 billion in total supply.
Additional data collected by The Block shows that USDC currently encompasses 16.69% of the total stablecoin supply, compared to USDT’s 69.95%.
As The Block Research’s new stablecoin report shows, CENTRE, a consortium jointly founded between Coinbase and Circle, first issued USDC in September 2018. Funding to further develop the stablecoin has since reached $45 million.
USDC is most commonly used in North American timezones, according to the stablecoin report, whereas Tether continues to dominate in the Asia-Pacific region.
© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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Author: MK Manoylov
