USD Coin (USDC) and Binance USD (BUSD) have contrasting fortunes. USDC has experienced a notable upward trend, rebounding from the aftermath of the US banking crisis, while BUSD is grappling with a critical shortage in its supply.

This divergence underscores a shift within the stablecoin market, notably influenced by regulatory challenges encountered over the past year.

USDC Market Cap Soars

USDC has experienced a remarkable surge in market capitalization at the onset of the new year, riding the wave of favorable market conditions. Recent data from BeInCrypto indicates an impressive uptick of over $1.6 billion. This marks a 6.6% increase and brings the total market capitalization to $26.15 billion.

Corroborating this positive trend, crypto analytical platform CCData reported a consecutive second-month surge in USDC’s market capitalization. This follows a series of eleven consecutive monthly declines, with the stablecoin briefly surpassing the $25 billion market cap milestone in January.

Read more: A Guide to the Best Stablecoins in 2024

Several factors contribute to this upward trajectory. Notably, Go to Source to See Full Article
Author: Oluwapelumi Adejumo

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details