Tether’s Biggest Rival Now Has $4 Billion Market Cap

The total market capitalization of USD Coin (USDC) has surpassed $4 billion, according to a tweet posted by Circle CEO Jeremy Allaire.

The dollar-pegged cryptocurrency witnessed 800 percent growth in 2020 alone, thriving because of mushrooming demand for stablecoins. It currently holds 11th place on CoinMarketCap.

Image by coinmarketcap.com

Its bigger rival, Tether, hit the $20 billion mark in mid-December. Because of XRP’s recent collapse, it once again became the third-largest cryptocurrency.

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