USDC Switch Volume Hit 5X USDT's In Fallout From FTX Give Blueprint

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Stablecoin USD Coin (USDC) has grown in recognition since the give blueprint of FTX and now continually reaches daily switch volumes four to 5 occasions that recorded by major competitor Tether (USDT) essentially based on information from blockchain analytics firm Glassnode.

That’s no matter the market cap of USDT being $23 billion better than USDC. As of Jan. 10, the variation changed into as soon as in USDC’s favor by a margin of 4 and a half occasions.

<em>Whole switch volumes for USDC (In blue) and USDT (In inexperienced) from Oct. 8 to Jan. 1. Supply: Glassnode.</em>