The Crypto Roundup: 30 April 2024 | CryptoCompare.com

Circle’s USD Coin (USDC) has surpassed Tether’s USDT, the world’s largest stablecoin, in monthly transaction volumes, according to on-chain analytics from Visa, which show USDC reached 166.6 million transactions in April 2024, surpassing Tether’s 163.6 million.

USDC has been steadily chipping away at Tether’s dominance since late 2023. In December of that year, USDC transactions surpassed USDT’s for the first time, recording 145 million compared to USDT’s 127 million.

Tether remains the undisputed leader in terms of market capitalization, boasting over $110 billion compared to USDC’s $33.5 billion, while also maintaining a wider user base, with over 34.2 million unique wallets utilizing the stablecoin in April 2024, compared to USDC’s 9.57 million.

Visa’s data paints a broader picture of the stablecoin market. The four stablecoins tracked by Visa, including USDC, USDT, Paxos Standard (USDP), and PayPal USD (PYUSD), saw over $2.3 trillion in total transaction volume within the past 30 days over 352 million individual transactions.

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• Source: https://www.cryptocompare.com/email-updates/daily/2024/apr/30/