Circle’s Stablecoin Trumps Other Recent Dollar-Pegged Cryptocurrencies by Total Supply

  • {{ content.field_content_author|field_value|getauthorname|raw }}

    USDC appears to be the distinct leader of the great stablecoin season after recently teaming up with Coinbase and becoming part of the “CENTRE Consortium”

Cover image via U.Today

As Bloomberg states, Circle’s stablecoin dubbed USDC sees more demand than any other recently launched dollar-backed cryptocurrency, including the Gemini Dollar (GUSD). The data provided by Etherscan clearly shows the coin is leading by the amount of total supply with $127.4 million of USD Coin since its very inception in November. For comparison, GUSD is sitting only at $13 mln.

While trying to figure out the reason behind the Circle’s success, a crypto pundit Aaron Brown claims that the USDC is more related to cryptocurrencies than to traditional assets, and this gives it an edge over other similar stablecoins. This coin, he explains, isn’t entirely tied to the success of a single company.

Earlier, U.Today reported that USDC became the very first stablecoin listed on Coinbase.

{{ content.field_content_author|field_value|getauthorname|raw }}

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

Recommended articles
Tuur Demeester Reveals His Portfolio 'Until 2040', Bitcoin (BTC) Mentioned

Tuur Demeester Reveals His Portfolio 'Until 2040', Bitcoin (BTC) Mentioned

Bitcoin (BTC) Price May Hit $10,430 by End of Day: Trader’s Opinion

Bitcoin (BTC) Price May Hit $10,430 by End of Day: Trader’s Opinion

Seven Signs of Bitcoin (BTC) Bullish Market Pointed Out By Trader

Seven Signs of Bitcoin (BTC) Bullish Market Pointed Out By Trader