Think this is a chart that most people don’t have on their radar.
Tether is usually seen as the undisputed stablecoin king, and for now that’s still true in terms of total supply.
However, I was pretty surprised to see that over the last few months Circle has consistently flipped Tether in transaction volume. Last month, $USDC volumes even reached new ATHs, more than twice as high as $USDT's.
This is particularly interesting because:
1) Tether is valued roughly 20x higher than Circle’s current market cap
2) You can actually buy $CRCL on the open market, while Tether remains a private company
Definitely keeping this trend on my radar. If it continues, while $USDC supply growth also starts outpacing Tether’s, this might become one of the most obvious ways to bet on the biggest no brainer use case of crypto.
Tether is usually seen as the undisputed stablecoin king, and for now that’s still true in terms of total supply.
However, I was pretty surprised to see that over the last few months Circle has consistently flipped Tether in transaction volume. Last month, $USDC volumes even reached new ATHs, more than twice as high as $USDT's.
This is particularly interesting because:
1) Tether is valued roughly 20x higher than Circle’s current market cap
2) You can actually buy $CRCL on the open market, while Tether remains a private company
Definitely keeping this trend on my radar. If it continues, while $USDC supply growth also starts outpacing Tether’s, this might become one of the most obvious ways to bet on the biggest no brainer use case of crypto.
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