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Stablecoin monthly transaction volume reached a record $1.8 trillion in February, as USDC surprised analysts with 70% of the total volume.USDC comprised 70% of all stablecoin volume.are cryptocurrencies designed to maintain a stable value, typically pegged to fiat currencies like the US dollar, and can be hosted on multiple blockchains.
Similarly, the volume of USDC transactions reached a high of $1.26 trillion, representing a new milestone in the adoption of the second-largest stablecoin by market cap since its launch in September 2018.Transaction volume by stablecoin. Source: Allium In fact, USDC has “consistently flipped” Tether in transfer volume over the last few months, founder at Moonrock Capital, Simon Dedic, USDC’s usage comes as a “surprise” given that its market cap is less than half that of USDt, Dedic added. USDC is the second-largest stablecoin by market cap at $77.4 billion, compared to USDt’s $184 billion.faster than USDt's in recent weeks. Over $3 billion in USDC has been printed already in March, according to market intelligence firm Arkham, as USDt’s supply has remained relatively unchanged.Circle just minted another $250M USDC on Solana. They’ve minted over $3 BILLION in just this first week of March. If Circle continue at this pace, they’re on track to mint over $12 Billion USDC by the end of the month.was fueled by a recovery in stablecoin supply on crypto exchanges, which rose to a three-week high of $66.5 billion on Friday.) price. On March 5, the total amount of stablecoins transferred to the exchange amounted to nearly $5.14 billion, up from $1.14 billion on March 1. More stablecoins on exchanges means more buying power for cryptocurrencies. In the past, the return of sidelined capital to exchanges was a major This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.
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