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

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By Alex Dovbnya

Fri, 1/01/2021 - 18:16

The second-largest stablecoin is now worth $4 billion

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

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.

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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.