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Stablecoins, who often take the back seat of Bitcoin and other top cryptocurrencies, are now in the spotlight. According to data on the chain, the Stablecoins market has risen to more than $ 200 billion, with Tether’s USDT and USDC as the most important growth engines.
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Based on the data from Cryptoquant, the Stablecoins market has risen by $ 37 billion by $ 37 billion since the first week of November last year, when Donald Trump won his second presidency. The same cryptoquant report shall share that the performance of the Stablecoin can go through to Bitcoin and others Cryptos.
Alphractal shared the same data; This time it emphasizes the growing role of USDC in the stablecoins segment. According to Alphractal, USDC eats the share of USDT, and other altcoins feeds its rise in the industry.
USDC is approaching its most important resistance level: Alfractaal
According to AlfractalThe stable but steady expansion of the Stablecoins market, with a fixed top, is proof of its tenacity. According to recent market data, Altcoin Trades helps USDC to get a grip. The research claims that the sale of Altcoin often moves to USDC, which stimulates the range of market.
🚨 stablecoin Market Cap surpasses $ 211 billion – USDC is gaining strength!
Since 2023, the Stablecoin market has grown considerably, mainly driven by USDT (Tether). However, USDC has recently been given a lead compared to other Stablecoins.
This trend takes place because of the recent drop in … pic.twitter.com/Rrkqermce
– Alphractal (@alphractal) January 31, 2025
However, this coin is approaching its resistance level and the replicating price movements were last seen in 2021. In contrast to its rival, Tether’s USDT, USDC enjoys strong institutional support and regulatory clarity. These are the main reasons why many investors and settings prefer USDC over USDT from Tether.
What about the other Stablecoins?
USDC and USDT are still the most popular stablecoins, but smaller stablecoins have no longer grow since 2023.
The total market value of these alternative stablecoins has usually remained the same, indicating that there has been little new development or growth beyond the two most important coins.
The observed poor adoption and popularity of the other coins raise questions about the prospects on Stablecoins. Just like USDT, many of these “smaller Stablecoin projects” are confronted with liquidity problems, lack of institutional support and regulatory uncertainty. Although it is good that the total market capitalization of Stablecoin is growing, it is also alarming that it is only dominated by two coins: USDT and USDC.
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Bullish or Bearish: USDCs short -term prospects
The current price promotion of USDC is approaching a critical resistance level, similar to his all time in 2021. If it continues to dominate and goes beyond this resistance, this can translate into a higher risk aversion, where capital leaves Meme of Alcoins. In short, it is a bearish signal because people are looking for stability.
It is also interesting to note that USDC Rose when Altcoins collapsed. This indicates that many investors secure their profit.
Featured image of Infomoney, Graph of TradingView
Credit : www.newsbtc.com
