According to the latest report by Kaiko, USDC trading volume on CEX is expected to soar in 2024, reaching a historical high of $38 billion in March of this year, far exceeding the average level of $8 billion in 2023. This growth may be driven by Bybit and Bullish, the two largest USDC markets, which account for 60% of the trading volume. Binance has not yet regained its dominant market share, with its current market share at around 30%. One possible explanation for the increasing popularity of USDC is that users are increasingly adopting and preferring regulated stablecoins. The declining dominance of USDT, its main competitor, also reflects this trend. Earlier in late April, Visa's on-chain data showed that USDC had 166.6 million monthly transactions in April 2024, surpassing USDT's monthly transaction volume of 163.6 million. In December 2023, USDC's monthly transaction volume was 145 million, surpassing USDT's monthly transaction volume (127 million) for the first time.

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