Due to increased economic instability, Tether and USDC are getting stronger

The share of the USDC according to the statistics of the last year began to decline. Last year, the figure almost reached 35%. However, it is now at 23%. CoinGecko writes about this.

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According to the publication, Tether's indicators have grown significantly over the same year. Now they reach almost 66% against 47% last year. The market capitalization of the USDC also fell to $29 billion. However, at Tether, it has risen, exceeding $83 billion. There was also a decline in indicators in the USD Binance. So, the share fell to a little more than 4%, when a year ago it was almost 12%.

Last month, USDC SEO Jerremy Allaire noted that the capitalization of stable coins is falling as a result of law enforcement actions against them. We are talking about tough measures of local regulators in the United States.

Experts also note the presence of a banking crisis. For example, the Circle company, which owns the USDC, had a $3.3 billion stake in the bankrupt SVB bank. this amount was about 8% of the total amount of the company's reserves, which provided a stable coin.

In addition to the above, it is worth noting that in March, stable coins also lost their binding to the dollar. They soon solved this problem.

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