USDC, a stablecoin developed by the Circle, is the second-largest USD-backed stablecoin on the market according to data from Skew.
Launched in 2018, USDC currently has a market capitalization of over $452 million and is followed by PAX with $191 million and TUSD with a $140 million market cap.
Circle's USDC a top performer among young stablecoins.
While finding USDC on the CoinMarketCap list might take a while, as the coin is currently ranked 28th in terms of its market cap, it dominates the stablecoin market.
Notwithstanding Tether, USDC is the largest stablecoin on the market, whose market cap outshines even the most hyped projects such as DAI. According to data from Skew, which took a look at all of the stablecoins launched in 2018, USDC has a market cap of $452 million.
While it's a far cry from Tether's $4.6 billion market cap, it's still more than two times larger than that of PAX.USDC leaves other stablecoins behind in everything but trading volume.
With a $191 million market cap, PAX is the second-largest stablecoin created in 2018, while True USD's $140 million market cap put it in the third place.
Decentralized stablecoin DAI has a much smaller part of the market with a capitalization of $118 million.
Binance's own stablecoin, the NYDFS-approved BUSD, seems to be struggling with adoption with a market cap of only $74 million.
Its current market cap stands at only $3.8 million.
After Tether, USDC dominates stablecoins with a $452 million market cap
Published on Mar 3, 2020
by Cryptoslate | Published on Coinage
Mainstream crypto adoption and DeFi were the main topics discussed at the Hangzhou International Blockchain Week
The Hangzhou International Blockchain Week 2020, one of the largest blockchain and crypto conferences in China, put a heavy focus onto mainstream adoption, with influential figures from the industry discussing the ways hundreds of millions of users could be drawn to the space.
Cardano Foundation Warns About Suspicious Activities in Japan
The Cardano Foundation has warned that a suspicious firm is trying to rake in investments by claiming contact with the foundation.
Texas Regulators Take Aim at South African Cryptocurrency MLM Scheme
The Texas State Securities Board has successfully shut down the operations of an illegal cryptocurrency investment scheme.
Cointelegraph Exclusive: CFTC Moves Annual Fintech Conference Online
On July 9, LabCFTC, the fintech office of the Commodity Futures Trading Commission, announced that it will replace its annual one-day Fintech Forward conference with three separate online sessions under the series title Empower Innovation 2020.