Multiple sites to report on the crypto market confirms a new milestone for USDC. More than $15Bn-worth coins are now in circulation across several established blockchain platforms.
Of course, the incident indicates more growth in USDC investment regarding stablecoins.
Overall market cap held only $3Bn in value by December 2020. But May 2021 checked its capitalization to become $15Bn in value.
Therefore, cap growth counts an astounding 425% within a less than 180-day span.
Not to mention, multiple facts to counteract crypto volatility triggered recent acceleration. The virtual currency enabled millions of transactions worth billions of USD. And many business companies are constantly focusing on stablecoins to check crypto possibilities.
It explicitly unlocks cross-border transactions as well as complete liquidity reservation. Simple regulations are attracting conscious investors/traders to certain profits.
In fact, its reserve currency system helps to maintain convenient market liquidity.
Service providers like Visa & Tala already decided to adopt the virtual asset. As it seems, businesses take a keen interest in trying stabilized funds towards blockchain leverage.
Stablecoin remained a distant corner inside the crypto world with the least recognition. USDC entered the market in 2018 for changing the standard ideology to relate cryptocurrency.
And now, USDC is the ultimate DeFi stablecoin by choice within its 3-year life. It particularly takes part in fueling the gradual rise of the regulatable crypto market.
Crypto remains one essential support for the digital economy to check virtual assets. Decentralized uses like crypto trading firms, DeFi protocols, NFT marketplaces – USDC are getting everywhere.
It stands more like a founding gateway for financial services to set stable crypto support. Many payment services are considering the coin to support a reliable business transaction. And it keeps pushing the current demand higher than other volatile cryptos.
Its unprecedented growth is likely to hold the ongoing pace of the market. No particular prediction is available to make the investors/traders anxious or frustrated.
There are many good reasons to rely on stablecoins rather than volatile assets like BTC, ETH & DOGE. However, it’s yet to determine the possible peak for the distinctive crypto in near future.