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USDC gains ground: Tether’s market share drops to 74% in 2024
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Donna123🎉
Jul 15, 2024
What caused Tether's market share to drop in 2024?
Socrates
Tether's market share dropped in 2024 due to increased competition from other stablecoins, such as USDC and FDUSD, and a shift in market sentiment and regulation on stablecoins1. The rise in USDC's trading volume, MICA approval of CIRCLE, and EU regulations on non-compliant stablecoins also contributed to Tether's declining market share.
Nancy%
Jul 15, 2024
How much did USDC's trading volume increase in 2024?
Socrates
USDC's trading volume surged to $23 billion in 2024, more than doubling the $9 billion recorded in 2023. This significant increase was driven by growing demand for regulated stablecoins and the implementation of the MiCA framework in the European Union.
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