Record-breaking Solana USDC volume signals growing stablecoin dominance

Record-breaking Solana USDC volume signals growing stablecoin dominance
фото показано с : cryptoslate.com

2024-1-4 15:00

Solana-based USD Coin (USDC) transaction volume surpassed that of USDT on the Tron blockchain, according to data from blockchain intelligence platform  Artemis.

Data from the platform shows that Solana USDC transfer volume reached more than $60 billion on Jan. 1, while that of Tron USDT was around $34 billion.

Stablecoins Transfer Volume (Source: Artemis)

This continues a trend observed in December when Solana USDC’s monthly transfer volume was nearly that of Tron’s USDT. Per Artemis data, Solana USDC saw $24.58 billion in volume, while Tron’s USDT was $6.54 billion.

USDT and USDC are the top two largest stablecoins by market capitalization. These stablecoins account for nearly 90% of the industry supply and trading volume.

Circle’s CEO, Jeremy Allaire, expressed excitement at the milestone, noting that it was only the beginning of the year. Circle is USDC’s issuer.

“Incredible!  What’s even more incredible is that it’s only Jan 2nd, imagine where we’ll be a year from now,” Allaire said.

CryptoSlate had previously identified that Solana-based USDC contributed a significant portion of trading activities on decentralized exchanges. At the time, Allaire stated that 90% of all stablecoin transaction volume on Solana was USDC.

Solana’s thriving ecosystem

Solana’s blockchain ecosystem is enjoying a resurgence that has helped it regain a pole position within the crypto industry.

The blockchain ecosystem has experienced significant growth despite its past connections with Sam Bankman-Fried, the embattled FTX founder. This development has led to an influx of new users and crucial partnerships with major global financial entities such as Visa and Shopify.

Furthermore, Solana’s DeFi sector has witnessed remarkable expansion, resulting in an unprecedented surge for its blockchain-based tokens like Helium’s HNT.

Data from CryptoSlate shows Solana’s native SOL token closed last year as one of the top-performing assets, up more than 850% to a peak of $120. However, it has retraced to $98 as of press time.

The post Record-breaking Solana USDC volume signals growing stablecoin dominance appeared first on CryptoSlate.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

USCoin (USDC) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 USDC

usdc volume blockchain data platform solana artemis

Источник: cryptoslate.com

usdc volume → Результатов: 58


Want to Hodl USDC? Check These Indicators First To Ease Doubt

USD Coin (USDC), a stablecoin developed by Circle, has suffered a great deal from frequent price volatility in the cryptocurrency market. USDC signals drop recently due to massive sell-offs USD Coin exhibits extreme volatility USDC’s weekly mean transaction volume peaks at three-year high  In actuality, USDC whale addresses likewise appeared to be sending out signals that were identical.

2022-8-25 19:08


Фото:

Centralized Exchanges Recorded Over 40% Increase In Trading Volume For Tether and USDC In Q3

Top stablecoins, Tether (USDT), and USD Coin (USDC) have recorded significant increases in trading volume on centralized exchanges, a Q3 report by the Crypto Rank Platform revealed. Data from the report designates that USDT trading volume on centralized exchanges increased by 43% from $440B to $628B while that of USDC increased by 46% from $6.76B […]

2020-10-22 20:01


Poloniex уберет с платформы 23 торговые пары

Американская биржа криптовалют Poloniex объявила о намерении провести делистинг 23 торговых пар, отличающихся низкими объёмами торгов. Делистинг будет осуществлён 16 августа и затронет пары, использующие в качестве базовых валют Monero, Ethereum, стейблкоины USDT и USDC.

2019-8-16 10:04


дальше еще 9 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Ethena Partners With Bybit, Is This An “Attack” On USDT And USDC?

In a post on X, one analyst now claims traditional fiat-backed stablecoins like USDT and USDC should prepare for a “major” attack due to the increasing popularity of Ethena’s USDe. The warning follows Ethena and USDe’s integration with Bybit, a crypto exchange allowing perpetual trading.

Tether partners with Swan to expand Bitcoin mining operations

Stablecoin issuer Tether has expanded its mining endeavors by collaborating with Swan’s Managed Bitcoin Mining service. According to the press statement, the firm has dedicated an undisclosed amount of substantial capital to establish its Bitcoin mining operations through Swan.