Based on the latest report released by Kaiko, USDC trading volume on CEX will soar in 2024, reaching a historic high of 38 billion US dollars in March this year, far higher than the average level of 8 billion US dollars in 2023. This growth may be driven by Bybit and Bullish, which are the largest USDC markets, accounting for 60% of the trading volume. Binance has not yet regained its dominant market share, currently accounting for about 30% of the market share. One possible explanation for the increasing popularity of USDC is that users are increasingly adopting and preferring regulated stablecoins. The declining dominance of its main competitor, USDT, also reflects this trend.

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