Stablecoin Transaction Volume Hits a New Record High as USDC Surpasses USDT
Stablecoin monthly transaction volume hit a record $1.8 trillion in February, with USDC volume exceeding USDT for the first time.Summary
Stablecoin monthly transaction volume reached an all-time high of $1.8 trillion in February, according to data from Allium. Circle's USDC accounted for a significant portion, with its transaction volume hitting $1.26 trillion, more than double that of Tether's USDT, which registered $514 billion. This marks a shift, as USDC has "consistently flipped" USDT in transfer volume recently, despite USDC's market cap being less than half of USDT's. Furthermore, USDC's supply is growing rapidly, with over $3 billion minted in early March. The increased stablecoin liquidity suggests returning "buying power" in the crypto markets, as indicated by the recovering Stablecoin Supply Ratio (SSR), and rising stablecoin supply on exchanges has coincided with Bitcoin's recent price surge.
(Source：Cointelegraph)