According to a recent report by Kaiko, the trading volume of USDC on centralized exchanges (CEX) is expected to increase in 2024. In March of this year, the trading volume reached a historic high of $38 billion, far exceeding the average level of $8 billion in 2023.
The report suggests that 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 and currently holds approximately 30% of the market share.
Furthermore, the increasing popularity of USDC can be attributed to the growing adoption and preference for regulated stablecoins by users. The declining dominance of USDT, the main competitor of USDC, also reflects this trend.
Tags:
CEX
USDC
USDT
Regulation
Source Link:
https://research.kaiko.com/insights/is-the-etf-rally-over
Note: All articles from Bitpush represent the views of the author and do not constitute investment advice.
Original Article Link:
https://www.bitpush.news/articles/6676393
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