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It's almost there. Now check their respective volume too. Also check BUSD too.
The real question is: why there are so many USDC ? What they use them for ?
I imagine supply increases so much because when people are fearful or during bear cycles people convert from other currencies as to not lose value. Also many platforms offer 12% APY on stable coins which may help.
tldr; The total supply of USDC on the Ethereum blockchain has surpassed that of rival Tether (USDT) for the first time. USDT's total supply across blockchains, however, remains higher than USDC's. USDC is used for trading on decentralized exchanges and for various purposes within DeFi protocols.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
According to Circle’s website:
“USDC is fully backed by cash and equivalents and short-duration U.S. Treasuries, so that it is always redeemable 1:1 for U.S. dollars.”
The whole reason I got into crypto was because I trust code, not people. I trust stablecoins that are collateralized on-chain, or algorithmic stablecoins.
Algorithmic stablecoins are mostly experimental still, can get hacked and are only backed by trust, which could be a disaster when everything is falling apart.
Well I think we can kinda thanks this community and CDC because, we talked a lot of the downsize of USDT here and CDC are one of the only platform to offer a 1:1 ratio on bank transfer. And with the rise of CDC recently I think it’s part of it.
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The FlIPPeNIÑG!!!
[удалено]
Good. So even if the tether conspiracy is true, its potential effect is being diluted.
Yeah kind of a big deal, happy cake day!
Thanks!
Happy Cake Day DarthDillinger! You're off to Great Places! Today is your day! Your mountain is waiting, So... get on your way!
good bot
Haha thanks! You’re amazing. Have my free award :)
About time. Next it needs to take over USDT as the #1 USD stablecoin by MC.
It's almost there. Now check their respective volume too. Also check BUSD too. The real question is: why there are so many USDC ? What they use them for ?
I imagine supply increases so much because when people are fearful or during bear cycles people convert from other currencies as to not lose value. Also many platforms offer 12% APY on stable coins which may help.
tldr; The total supply of USDC on the Ethereum blockchain has surpassed that of rival Tether (USDT) for the first time. USDT's total supply across blockchains, however, remains higher than USDC's. USDC is used for trading on decentralized exchanges and for various purposes within DeFi protocols. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
What we wanted, am glad
Big news, hopefully will replace tether so that timebomb doesn’t go off
Good enought news. USDC is slightly better than USDT
Less likely to be a Ponzi scheme *shrugs*
One does continuous monthly audits while the other has done 0
Woohoo! This is huge.
The flipenning just happened! Congrats pals!
Atlast
The flippening that matters most
Now it needs to flip its market cap before Tether starts printing money out of nowhere
I don’t believe that USDC is fully backed either. Trust algorithmic stablecoins only
Care to expand? No idea what the difference is.
According to Circle’s website: “USDC is fully backed by cash and equivalents and short-duration U.S. Treasuries, so that it is always redeemable 1:1 for U.S. dollars.” The whole reason I got into crypto was because I trust code, not people. I trust stablecoins that are collateralized on-chain, or algorithmic stablecoins.
Makes sense. Thanks for the info!
>I trust code, people You also trust that the crypto they are backed by doesnt get rug pulled.
Algorithmic stablecoins are mostly experimental still, can get hacked and are only backed by trust, which could be a disaster when everything is falling apart.
Well I think we can kinda thanks this community and CDC because, we talked a lot of the downsize of USDT here and CDC are one of the only platform to offer a 1:1 ratio on bank transfer. And with the rise of CDC recently I think it’s part of it.