USDC has achieved a new all-time high market capitalization exceeding $60 billion, driven by increased adoption. Currently, USDC holds a 25.4% market share in the stablecoin arena, up from 20.7% three months ago, though it significantly trails Tether, which commands a market cap of $144 billion, representing about 63% of the total stablecoin market. In the last three months, USDC minted approximately $16.5 billion, contrasting with the $4.7 billion minted by Tether. Additionally, regulatory changes have created a favorable landscape, as USDC becomes the first stablecoin to comply fully with new European standards. Furthermore, Circle, the company behind USDC, is reportedly exploring an IPO while deepening its involvement in Japan's digital asset market in collaboration with SBI VC Trade, a local exchange. The regulatory environment has also led to Coinbase delisting Tether in Europe to comply with the EU's new MICA regulations. This shift indicates a growing trust in USDC amidst regulatory pressures on competitors.

Source 🔗