The digital stablecoin USDT loses its dominance as the largest stable digital currency based on Ethereum


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Tether USDT is the largest stablecoin by total market capitalization.

Its first presence was exclusively on the Ethereum blockchain and then expanded to other blockchain networks such as Tron, Polkadot, Binance…

The digital stablecoin USDT was the largest digital stablecoin present on the Ethereum blockchain.

The situation changed, and the USDC entered the competition arena and became the largest stable digital currency on Ethereum.

According to a tweet shared by Alex Svanevik, CEO and founder of Nansen Analytics Team, the digital stablecoin USDC has overtaken its Ethereum-based USDT competitor in terms of the number of cryptocurrencies.

Currently there are 40,055,012,440 USDC on Ethereum.

While there is 39,828,710,009 USDT on Ethereum.

USDT and USDC are the two largest stablecoins. The total market capitalization of USDT is $78 billion, while the total market capitalization of the digital stablecoin USDC is $45.3 billion according to the platform. coinmarketcap.

While BUSD is the third largest stablecoin with a total market capitalization of $14.4 billion.

Terra USD is the largest algorithm-controlled decentralized stablecoin with a total market capitalization of $10 billion.

USDC Market Cap Rise 10x in 1 Year:

In 2021, Circle’s USDC cryptocurrency cemented its position as the fastest growing stablecoin.

Where the currency entered the year 2021 with a capital equal to approximately 4 billion dollars.

To increase its total market value to reach $45.3 billion at the beginning of 2022.

Stablecoins use various blockchain platforms to issue their cryptocurrencies.

Besides Ethereum, the digital stablecoin (USDT) runs on the Tron, Omni, Liquid, Solana, Algorand, SLP, and EOS blockchains.

The digital stablecoin (USDC) also has a presence on the Ethereum, Solana, Tron, Binance, and Fantom blockchains.

Read also:

Bitcoin and Ethereum Price Volatility Decreased…What Does This Mean for Investors?

Crypto company “FTX” launches an investment fund worth 2 billion dollars

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