USDC Leading the Race to Second PlaceCoinbase’s USDC has been steadily adding to its treasury, with the backing being one dollar to one USDC. Currently, the major US exchange holds $452 million. While this is a significant figure, and one that has more than doubled since 18 months ago — it still pales in comparison with USDT. Still, USDC is comfortably in second place in relation to its other, newer competitors. More so, USDC is also starting to gain traction in regards to volume with the coin seeing daily trading volume at over a billion soon after the beginning of the year. cryptounfolded) and shows that TUSD is another coin that is seeing impressive volume, also breaking over $1 billion a day, although its market cap has been steadily dipping over the past 18 months.
Rocky Road for the Gemini DollarOne stablecoin that is not faring so well is the Winklevoss’ creation, GUSD. The stablecoin from the Gemini exchange, which prides itself on rigorous adherence to regulation, has been hemorrhaging in market cap and currently sits at just $3.8 million. In early December last year, as much as a quarter of all GUSD was burned adding further speculation to the fire that the coin was on its way out. More than its dropping market cap, the platform only boasts a worrying $8.6M in trading volume total — with 78 percent of this volume being on its BTC/USD pair.
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