Circle's USDC Beats Tether in Trading Volume for First Time Since 2019

A major shift is happening in the world of digital dollars as Circle's USDC has overtaken Tether's USDT in trading activity for the first time in years.

What are stablecoins? These are cryptocurrencies designed to always be worth exactly $1. Think of them as digital versions of the US dollar that you can send instantly around the world. The two biggest players are USDC (made by Circle) and USDT (made by Tether).

According to Japanese investment bank Mizuho, here's what changed: • USDC trading volume: $2.2 trillion so far this year • USDT trading volume: $1.3 trillion so far this year • This gives USDC a 64% market share of trades between these two

This is significant because it's the first time since 2019 that USDC has beaten USDT in trading activity. Trading volume (how much is bought and sold) shows which stablecoin people actually use for payments and transfers.

Why does this matter? While Tether still has more total coins in circulation ($184 billion vs $79 billion), the higher trading volume suggests more people are choosing USDC for their actual transactions. Mizuho believes the "winner" in stablecoins will be the one people use for everyday payments, not just holding.

The news pushed Mizuho to raise their price target for Circle's stock from $100 to $120, though the stock price didn't move much after the announcement.

This is an AI-generated summary. Read the original article at: https://cointelegraph.com/news/circle-usdc-tether-usdt-adjusted-ytd-volume-mizuho?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound