Tether vs. USD Coin on-chain data reveals two very different stablecoins
Tether vs. USD Coin on-chain data reveals two very different stablecoins
USDT/USD
+0.02%
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ETH/USD
+3.10%
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USDC/USD
-0.01%
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USD Coin (USDC), a stablecoin issued by the U.S.-based Circle Financials Ltd, is taking the lead over its top rival, Tether (USDT), when it comes to institutional adoption, according to on-chain data.
The market capitalization of USDC tokens in circulation comes to be around $44 billion versus USDT’s $65.42 billion. However, USDC’s daily transfer value on the Ethereum blockchain has been consistently higher than USDT throughout 2022, data from Glassnode shows.
