Bitget, a major cryptocurrency exchange, is making waves by favoring USDC listings, potentially diluting USDT's dominance. The platform recently listed Shiba Inu and Stellar against USDC, highlighting the growing acceptance of this stablecoin.
Bitget, a prominent cryptocurrency exchange, has introduced a new wave of listings, notably pairing tokens with USDC , a leading stablecoin. This move signals a strategic shift towards diluting the dominance of USDT , the current market leader, on the platform. Among the newly listed assets are Shiba Inu (SHIB) and Stellar (XLM), two cryptocurrencies with strong communities and recent market attention.
SHIB, a popular meme coin, boasts a massive following, while XLM is gaining traction due to its recent surge in price. The exchange's decision to prioritize USDC listings, particularly against well-established cryptocurrencies like SHIB and XLM, raises questions about the evolving landscape of stablecoins and their growing acceptance within the crypto ecosystem. The current trading volume for the USDC/USDT pair on Bitget stands at $32.43 million, ranking 11th among all trading options. While the turnover for newer, riskier meme coins like VINE and SUNDOG is higher, Bitget's apparent strategy is to gradually increase the prominence of USDC trading pairs on its platform. This approach could potentially reshape the dynamics of stablecoin usage, especially in light of the regulatory scrutiny faced by Tether (USDT), the issuer of USDT.The market capitalization of USDC currently trails USDT by a significant $80 billion. However, it's worth noting that the gap wasn't always this wide. In the past, both stablecoins enjoyed relatively similar market valuations. This recent surge in USDC listings on prominent exchanges like Bitget could signify a potential resurgence of USDC's position within the stablecoin market. Exchanges may be strategically positioning themselves to capitalize on this growing liquidity and potentially attract a broader user base seeking a more regulated and transparent stablecoin alternative
BITGET USDC USDT SHIBA INU STELLAR STABLECOINS CRYPTOCURRENCY MARKET
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