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USDC transfer volume hit 5X USDT’s in fallout from FTX collapse Cointelegraph via biedex.markets

What remains in the NFT market now that the dust has settled? By Cointelegraph


Stablecoin (USDC) has grown in popularity since the collapse of FTX and now frequently reaches daily transfer volumes four to five times that recorded by major competitor (USDT) according to data from blockchain analytics firm Glassnode.

That’s despite the market cap of USDT being $23 billion greater than USDC. As of Jan. 10, the difference was in USDC’s favor by a margin of four and a half times.

Total transfer volumes for USDC (In blue) and USDT (In green) from Oct. 8 to Jan. 10. Source: Glassnode.
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Market cap of USDT from May 2018 to Jan. 2022. Source: TradingView

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Written by Sandy Sullivan