Tether's Biggest Rival Now Has $4 Billion Market Cap

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Fri, 01/01/2021 - 18:16

Alex Dovbnya

The second-largest stablecoin is now worth $4 billion

Tether's Biggest Rival Now Has $4 Billion Market Cap

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The total market capitalization of USD Coin (USDC) has surpassed $4 billion, according to a tweet posted by Circle CEO Jeremy Allaire.

The dollar-pegged cryptocurrency witnessed 800 percent growth in 2020 alone, thriving because of mushrooming demand for stablecoins. It currently holds 11th place on CoinMarketCap.

Circle CEO Jeremy Allaire Slams Tether for Being Unregulated Offshore Banking Solution

Its bigger rival, Tether, hit the $20 billion mark in mid-December. Because of XRP’s recent collapse, it once again became the third-largest cryptocurrency.

#Tether News #USDC

About the author

Alex Dovbnya

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, can be contacted at alex.dovbnya@u.today.