Valoarea de piață a monedei USD (USDC) a Circle scade sub 50 de miliarde de dolari, iată de ce

Circle’s USD Coin (USDC) market cap continues to tumble below $50 billion as whales lose confidence in the stablecoin and exchanges delist USDC amid censorship risks. After the Terra-LUNA crisis and liquidity crisis, some believed the USDC stablecoin will dethrone Tether (USDT). However, the market cap has declined from a high of $55.90 billion in July-end to $49.45 on September 26.

USD Coin (USDC) Loses Race with Tether (USDT)

Stablecoins have lost shine after the Terra-LUNA crash and DeFi liquidity crisis. Also, increased regulatory burden, risky reserves backing, and censorship risks have also put severe pressure.

While Circle’s USDC stablecoin continues to lose market cap against Tether, the major reason behind the downfall is the lack of censorship resistance.

After the US Treasury’s Office of Foreign Assets Control (OFAC) Criptomixerul sancționat Tornado Cash, Circle immediately froze all USDC on Tornado Cash. This led whales to lose confidence in USDC and DeFi giants such as MakerDAO unwind USDC collateral to another censorship-resistant stablecoin.

Meanwhile, Tether didn’t freeze USDT assets and the market cap has increased since then. The USDT market cap has increased to nearly $68 billion. According, to CoinGecko, USDC circulation has dropped 5.3% in the last 30 days, whereas USDT circulation has increased 0.4% in the last 30 days.

Furthermore, Binance and WazirX have delisted USDC and will convert balances to BUSD. Binance suspended spot, future, and margin trading in USDC for increasing liquidity and capital efficiency in early September. The USDC market cap has declined since then. According to CoinGecko, Binance USD (BUSD) circulation has increased by 10% in the last 30 days.

Binance is the world’s largest crypto exchange in trading volume. Any delisting by the exchange significantly impacts the trading volume of that cryptocurrency. Even Robinhood announcing support for USDC hasn’t stopped the market cap decline.

USD Coin Market Cap Below $50 Billion

Experts believe the stablecoin market is under liquidity risks amid the Federal Reserve’s hawkish rate hikes. Moreover, IMF warned earlier that stablecoins could lead to another crypto winter.

Meanwhile, the crypto market has moved towards other stablecoins such as USDT and BUSD as USDC’s future remains uncertain.

Varinder este scriitor și editor tehnic, pasionat de tehnologie și gânditor analitic. Fascinat de Tehnologiile Disruptive, el și-a împărtășit cunoștințele despre Blockchain, Criptomonede, Inteligență Artificială și Internetul Lucrurilor. El a fost asociat cu industria blockchain și criptomonede pentru o perioadă substanțială și în prezent acoperă toate cele mai recente actualizări și evoluții din industria criptomonedelor.

Conținutul prezentat poate include opinia personală a autorului și este supus condițiilor pieței. Faceți cercetările de piață înainte de a investi în criptomonede. Autorul sau publicația nu își asumă nicio responsabilitate pentru pierderea dvs. financiară personală.