🚀📈 Circle's USDC is soaring high, folks! Thanks to the MiCA regulation, there's a growing appetite for compliant stablecoins. Guess who's leading the pack? Yep, USDC!
- Non-compliant stablecoins currently hold 88% of the total volume. But MiCA is shaking things up, pushing market makers towards compliant alternatives.
- Big names like Binance, Bitstamp, Kraken, and OKX are already delisting non-compliant stablecoins for European customers. 👋 USDT!
- USDC's weekly trading volume rocketed to $23 billion in 2024, up from $5 billion in 2022. Now that's growth! 🚀
Circle, the company behind USDC, just got an e-money license from France's ACPR, making it the first global stablecoin issuer to comply with MiCA. Both USDC and Euro Coin (EURC) are now fully MiCA-compliant.
Centralized exchanges (CEXs) have been key in boosting USDC volumes. After Binance re-listed USDC in 2023, its market share on CEX jumped from 60% to over 90%. Zero-fee USDC trading on Bybit also helped.
USDC's use in settling perpetual futures contracts is on the rise, especially for Bitcoin and Ethereum.
What are your thoughts on this surge in demand for compliant stablecoins? Let's chat in the comments! #USDC #MiCA #CryptoNews