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14 January, 2025

USDC’s Triumphant Comeback: Outpacing USDT in 2024’s Stablecoin Race

14 January, 2025

In a stunning display of resilience, Circle’s USDC stablecoin not only recovered from the significant market cap downturn experienced in 2023 following the Silicon Valley Bank crisis but also dramatically surpassed its competitor, Tether’s USDT, in market capitalization growth throughout 2024. This remarkable surge underscores USDC’s strength and the market’s renewed confidence in its stability. Analysts attribute this success to a number of factors, including Circle’s proactive measures to enhance transparency and bolster its reserves, alongside a broader shift in investor sentiment towards regulated and well-backed stablecoins. The data paints a clear picture: USDC’s strategic response to adversity has paved the way for its emergence as a dominant force in the stablecoin landscape.