USDC hits the Market Cap

USDC hits the Market Cap of 30 billion dollars, Stablecoin setting a new record

The second-largest stablecoin by market valuation, USDC hits the Market Cap of 30 billion dollars. USDC has added 10 billion dollars in 125 days. All Stablecoins holds 6.54% of the whole crypto economy.

The growing economy of crypto is also taking the stablecoins like USDT and USDC with them. First, Newsbsc has reported about the USDT’s market cap nearing $70 billion. Now the second-largest stablecoin is also increasing its presence in the crypto market. Stablecoin assets hold a worth of more than $129 billion that makes them 6.54% of the total crypto economy.

USDC hits the Market Cap:

Centre Consortium led by Circle Financial and Coinbase is authorized to issue the USDC. IN four months the USDC hits the Market Cap of 30 billion dollars. The market cap of USDC was around $20 billion on May 23, 2021. The USDC has increased by 54% since May 23.

USDC hits the Market Cap
The usd coin (USDC) market valuation on May 23, 2021, to today’s market valuation of around $30,984,370,920 on September 25, 2021

The popular and second-largest stablecoin has been in the market for a long time now. It is used to hedge against volatility, leverage for decentralized applications, and many more. USDC hits the Market Cap of 30 billion dollars and also represents 1.56% of the crypto economy.

On Saturday, USDC commands around $3 billion in global trade volume. While usually, USDC has very little fluctuation because it’s pegged to the USD, it can still be $0.98 to $1.02 per token. On May 8, 2019, USDC exchanged for $1.17 per token as it was 14.6% higher that day.

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About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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