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USDC circulation to increase by 78% in 2024: report
According to the report, USDC supply has increased from a low of US$24.4 billion in early 2024 to US$43.9 billion on January 1, 2025. This growth contrasts with 2023, when stablecoins fell 45% to US$33.2 billion following the collapse of Silicon Valley Bank (SVB).
The Santa Clara-based financial institution held about US$3.3 billion of Circle's cash reserves. Its collapse triggered a massive sell-off, leading to a short-term drop in the value of the U. S. dollar.
To date, this virtual asset operates on 16 blockchains and allows for the transfer of more than $850 billion in fiat currency. Additionally, in November 2024, monthly transaction volume surpassed the US$1 trillion mark, bringing the total historical transaction volume to more than US$18 trillion. Dante Disparte, chief strategy officer
Circle, attributes USDC's recent success to the company's active engagement with regulators. For example, the company became the first steblecoin issuer to be licensed under the European Union's Markets in Cryptoassets (MiCA) program.
Boston-based Circle also meets the strict criteria for VRCA listing in Canada. It is one of the few #cryptocurrency companies to do so. These requirements forced several companies, including Kraken, #Bitstamp and Bybit, to cease operations in the country.
However, not everything went smoothly for the organization. Late last year, Circle was reportedly forced to cut its staff by over 6% after what it called a normal operating estimate.
Furthermore, despite the growth recorded last year, the #USDC is still lagging behind the #USDT . The number one stablecoin ended 2024 with a market capitalization of $137.5 billion. This amount is equivalent to 66% of the entire stackcoin sector, which is valued at around $208 billion USD.
Furthermore, since 2021, the value of USDT has increased by more than 74% and USDC by 8.8%. According to CoinGecko data, in 2021, Tether was worth $78.3 billion and USDC, which is now called USD Coin, was worth $42 billion. USD Coin was worth $ 42 billion.
Read us at: Compass Investments
#CryptoUpdates
The Santa Clara-based financial institution held about US$3.3 billion of Circle's cash reserves. Its collapse triggered a massive sell-off, leading to a short-term drop in the value of the U. S. dollar.
To date, this virtual asset operates on 16 blockchains and allows for the transfer of more than $850 billion in fiat currency. Additionally, in November 2024, monthly transaction volume surpassed the US$1 trillion mark, bringing the total historical transaction volume to more than US$18 trillion. Dante Disparte, chief strategy officer
Circle, attributes USDC's recent success to the company's active engagement with regulators. For example, the company became the first steblecoin issuer to be licensed under the European Union's Markets in Cryptoassets (MiCA) program.
Boston-based Circle also meets the strict criteria for VRCA listing in Canada. It is one of the few #cryptocurrency companies to do so. These requirements forced several companies, including Kraken, #Bitstamp and Bybit, to cease operations in the country.
However, not everything went smoothly for the organization. Late last year, Circle was reportedly forced to cut its staff by over 6% after what it called a normal operating estimate.
Furthermore, despite the growth recorded last year, the #USDC is still lagging behind the #USDT . The number one stablecoin ended 2024 with a market capitalization of $137.5 billion. This amount is equivalent to 66% of the entire stackcoin sector, which is valued at around $208 billion USD.
Furthermore, since 2021, the value of USDT has increased by more than 74% and USDC by 8.8%. According to CoinGecko data, in 2021, Tether was worth $78.3 billion and USDC, which is now called USD Coin, was worth $42 billion. USD Coin was worth $ 42 billion.
Read us at: Compass Investments
#CryptoUpdates
😱🔥Ripple’s RLUSD #stablecoin , backed by regulatory approval from the #NYDFS , is making waves in the market as it targets listings on major exchanges like Coinbase and Binance. Currently live on platforms such as #Bitstamp , Uphold, and Bullish, #RLUSD is strategically positioned to attract institutional demand due to its compliance and growing trading volumes. While exclusivity agreements with other stablecoin issuers and technical integration hurdles present challenges, Ripple’s proactive approach in addressing these issues signals strong potential for RLUSD’s market expansion. Traders should monitor this stablecoin closely, as its increasing adoption across exchanges could present lucrative opportunities in the evolving stablecoin sector.
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$XRP
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#Ripple , #Robinhood , and #Bitstamp : A Possible Price Revolution for #xrp
The strategic partnership between Ripple, Robinhood, and Bitstamp to tap into the tokenized derivatives market could not only revolutionize the financial world, but also take the XRP price to a whole new level. The global derivatives market is valued at over $1 quadrillion, even just 1% of this figure ($10 trillion) on the XRP ledger could have a huge impact ($100-250$ ).
The strategic partnership between Ripple, Robinhood, and Bitstamp to tap into the tokenized derivatives market could not only revolutionize the financial world, but also take the XRP price to a whole new level. The global derivatives market is valued at over $1 quadrillion, even just 1% of this figure ($10 trillion) on the XRP ledger could have a huge impact ($100-250$ ).
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Ripple has pledged to donate $5 million worth of $XRP to the inauguration fund for President-elect Donald Trump. Ripple CEO Brad Garlinghouse has already had a private meeting with President Trump, which has caused a major market move, especially for the price of $XRP
In addition to Ripple, Brian Armstrong, CEO of #coinbase , and his company have donated $1 million to President Trump’s inauguration. Now, global trading platform Kraken and DeFi token project Ondo Finan have also contributed $1 million each. Donors will be invited to attend Sunday services, an inauguration ceremony, and will also have the opportunity to meet members of Trump’s cabinet.
The main reason behind these donations is the need for clearer rules in the cryptocurrency industry. Trump’s business-friendly approach and promise to ease regulations make him an important figure in the crypto world.
Ripple’s involvement in important events like this, along with its partnerships with institutions like#Bitstamp and its ongoing efforts in the global market, reinforces its position as a leading player in the cryptocurrency world. Ripple’s engagement with key U.S. officials has become increasingly visible. In addition to this donation, Ripple has held multiple meetings with the Federal Reserve and other major financial players. The company positions itself as a leader in the cryptocurrency space#blockchain
In addition to Ripple, Brian Armstrong, CEO of #coinbase , and his company have donated $1 million to President Trump’s inauguration. Now, global trading platform Kraken and DeFi token project Ondo Finan have also contributed $1 million each. Donors will be invited to attend Sunday services, an inauguration ceremony, and will also have the opportunity to meet members of Trump’s cabinet.
The main reason behind these donations is the need for clearer rules in the cryptocurrency industry. Trump’s business-friendly approach and promise to ease regulations make him an important figure in the crypto world.
Ripple’s involvement in important events like this, along with its partnerships with institutions like#Bitstamp and its ongoing efforts in the global market, reinforces its position as a leading player in the cryptocurrency world. Ripple’s engagement with key U.S. officials has become increasingly visible. In addition to this donation, Ripple has held multiple meetings with the Federal Reserve and other major financial players. The company positions itself as a leader in the cryptocurrency space#blockchain