As of December 4, 2024, USDC maintains its strong position as a stablecoin with a 1:1 peg to the U.S. dollar, valued consistently at $1.00. Over the past year, USDC's adoption has increased, particularly in decentralized finance (DeFi) and global crypto exchanges. It now enjoys a market capitalization of $40.15 billion.
In 2024, the stablecoin has seen a notable resurgence. Following the European Markets in Crypto-assets Regulation (MiCA), USDC's market share has expanded significantly, especially on centralized exchanges (CEXs). This is partly due to compliance with new regulations and the re-listing of USDC on major exchanges like Binance. Additionally, its usage in Bitcoin and Ethereum perpetual futures has increased, signaling growing market confidence.$BTC
USDC's growth trajectory also reflects broader market trends, where it increasingly competes with Tether (USDT), which has historically dominated regions outside North America and Western Europe. USDC's presence in global markets is now on the rise, aided by institutional support and adoption through exchanges like Coinbase. Despite USDT maintaining its dominance in certain sectors, USDC's stable value and regulatory compliance position it as a robust alternative for traders and institutions alike.
For more details on USDC's market dynamics and price, visit Coinbase.