The digital stablecoin USDC outperforms the USDT in May 2022…Here’s why!
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Answer The digital stablecoin USDC outperforms the USDT in May 2022…Here’s why!
Recently, stablecoins have come under scrutiny due to the recent massive collapse of the UST digital stablecoin that has become TerraClassicUSD (USTC).
Global regulators have started taking steps to protect users and control these stablecoins more.
The total market cap of stablecoins decreased to $160.9 billion.
Meanwhile, USDC has outperformed the largest stablecoin USDT in the last 30 days.
Stable Cryptocurrency Trading Volume Over $32.8 Billion:
According to data shown by Coingecko, the market cap of the stablecoin Tether has fallen by more than 12.7% in the past 30 days.
This value is now approximately $72.7 billion.
On the other hand, the USDC stablecoin recorded a gain of almost 11% at the same time.Read:Cryptocurrency exchange Mt.Gox creditors agree to receive $9 billion in damages
The USDC stablecoin recorded a market capitalization of $54.1 billion.
The trading volume of the stablecoin has decreased in the last 24 hours to stand at $32.8 billion.
According to the data, the USDT stablecoin accounts for 79% (about $30.7 billion) of the trading volume.
while USDC represents 9.5% (about $3.7 billion).
Meanwhile, the market cap of the Binance stablecoin has increased by about 1.5% over the past 30 days and is now at $18 billion.
While the valuation of the stablecoin Dai fell more than 21% to stand at $6.4 billion.
USDD Decentralized Stable Coin Market Cap Increases 635%:
May saw the global cryptocurrency market crash and the de-linking of many stablecoins.
Meanwhile, Tron’s USDD cryptocurrency has emerged as the biggest winner among the biggest stablecoins.
Its total market capitalization has increased by 635% in the last 30 days.
The coin was launched just before the market crash started.Read:Out of the flock…AXS cryptocurrency rises by 50% and reaches a new peak
The USDD stablecoin has a total circulation of over 667 million usdd.
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