Bittime - According to on-chain analysis from Visa, the global payments giant's stablecoins are becoming an important part of the digital financial ecosystem. In the latest development, USD Coin (USDC) has outperformed Tether (USDT) monthly transactions.
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USDC Dominates the Transaction Market
Data shows that in April 2024, USDC recorded 166.6 million transactions, surpassing USDT's 163.6 million transactions. This is the first time since late 2023 that USDC has started to gain ground on the stablecoin transaction market. As reported by Visa, USDC's monthly transaction count of 145 million beats USDT's 127 million.
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Tether Still the Largest Stablecoin in the World
With a market capitalization of over $110 billion, Tether is the world's largest stablecoin and accounts for over 68% of the stablecoin market share.
This development came as a shock to industry players. According to CoinMarketCap data, Tether even surpassed Circle's USDC, which is currently valued at $33.5 billion.
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USDC vs USDT Battle of Fixed Number of Users
However, the number of Circle users is still far behind Tether. USDT used more than 34.2 million unique wallets as of April 2024, while USDC only had 9.57 million unique wallets.
Over the last thirty days, there were 27.3 million unique stablecoin users and 21.4 million stablecoin shipping addresses.
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Conclusion
This development shows that USDC is becoming a major player in the stablecoin market, providing a stronger and more diverse choice for users around the world. With support from Visa and strong growth, USDC's prospects in facing Tether are increasingly promising.
How To Buy Tether (USDT) With Bittime
You can buy and sell Tether (USDT) in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Tether (USDT) is available on Bittime with USDT IDR pairing.
To be able to buy USDT tokens on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet . For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn How to Buy Tether (USDT) on Bittime.
Monitor price chart movements of Tether (USDT), Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Read Too:
Tether (USDT) vs. Frax (FRAX): Comparison Between Stablecoins
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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