Circle's USDC made up about 70% of adjusted stablecoin transaction volume

[fullfitlarry]

https://x.com/CoinDesk/status/2074195423472841009

Circle is on the offensive once again, since the released of $OUSD, they think that there is going to be competition with them. And so first, they try to discredit the consortium.

Now, this reports that they have cornered the stable coin market with 70% of it.

Not sure if this numbers is true, but I haven't used USDC before, I'm more on Tether's USDT.

So for me this is just another propaganda and hype for them to say that have dominated the market as far as stablecoin goes.

My question is, have you used USDC before, Or do you think that this report is valid and some truth in it?

[FinneysTrueVision]

USDC might be more dominant in these statistics because their volume is more visible. USDT’s volume is mostly happening on centralized exchanges whereas USDC gets a lot of its usage in decentralized finance.

Overall, USDT still has a bigger market cap because it is widely used in developing countries. On-chain metrics don’t tell the whole story. Different groups of people will prefer one over the other depending on what their needs are.

[asriloni]

I personally think that number is valid because Circle USDC more often in leading the stable coin volume started from this year compared to the USDT. However, the number needs to be adjusted a little bit. It's more like USDC has 66.6% of dominance compared to the USDT with 33.3% dominance.

To think USDC is owninng 75% volume sounds a bit non sense because sometimes, USDT could also surpass USDC in term of volume too. So it's not always stay between 75% - 25%.

Fyi, i'm active user of stable coin, but i'm much more often use USDC instead of USDT because of CCTP makes it more easy to tx from one chain to the another chain.