Learn how USDC outperformed Tether’s USDT in May

Tera and other cryptocurrencies have seen a significant decline recently, in which the entire crypto market has recently declined, so people do not want to empty their crypto wallets, there is a lot of panics now with global regulators. Their measures are being examined.

The crypto market has experienced a severe downturn with the entire market cap falling below $160 billion, although USD Coin (USDC) has overtaken USDT as the largest stablecoin in the past 30 days.

But Tether has also declined for the past few days, now its value is around $ 72.7 billion. USDC, on the other hand, is up over 11% over the same period. And their value in US dollars is $54.1 billion.

Meanwhile, USDD has seen the most growth since the coin was issued as soon as the stock market started falling. And there are already over 667 million tokens in circulation right now.

Learn how USDC outperformed Tether's USDT in May
Learn how USDC outperformed Tether’s USDT in May

Trading has dropped to just $32.8 billion in the past 24 hours, meanwhile, the market value of the Binance USD has risen by about 1.5 percent. Now it is worth about $ 18 billion. While the market capitalization of Dai Stablecoin has decreased by about 21% to around $6.4 billion.

The crypto market crashed in May. Terra’s USTC collapsed, which had a market cap of over $18 billion, and has fallen to nearly $186 million.

Some earlier USDT had lost $11 billion in market cap as holders began to swap the stablecoin for USD with USDT. USDC is also the most widely used stablecoin nowadays. On the other hand, Tether and DAI dominate around 26.6% and 9.7% respectively.

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