USDC Market Cap Falls Over $18B This Year
Since March 2023, the market supply of the second-largest dollar-backed digital currency USD Coin (USDC) has decreased by $18.7 billion, reaching a capitalization of $25.9 billion on September 7.
To support this, its token developer Circle was proactive in issuing USDC on 11 different blockchains, including Base and Optimism blockchains for increased scalability.
This move greatly increased the potential opportunities for investors.
The USDT stablecoin, which is one of USDC’s leading competitors, is available on seven blockchains.
According to research done by Santiment, the total combined supply of USDC and the other popular stablecoin currencies USDT, BUSD, DAI, TUSD, and USDP is now over $121 billion, with the past two weeks seeing an increase of $663.2 million.
