The stablecoins market has been showing remarkable development in recent months. Stablecoins are becoming increasingly popular among cryptocurrency users due to their stability compared to other cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH).
Observing this development, analysts at the Santiment platform shared, on May 22, a survey that reveals a very significant growth in the number of wallets for the two largest stablecoins, Tether (USDT) and USD Coin (USDC).
According to the data, this year the number of non-empty wallets for the stablecoins USDCoin and Tether registered a considerable increase of 13.9% and 15.7%, respectively. A very significant development that highlights the growth of the estabelecoins market.
“Worried about another crypto market comeback? You may be comforted by the fact that the number of non-empty stablecoin wallets is increasing. In 2024, the number of non-empty USD Coin wallets grew +13.9% and Tether wallets grew +15.7%.”
💸 Concerned about another #crypto market retrace? You may be comforted by the fact that the amount of non-empty #stablecoins wallets are rising. In 2024, the amount of #USDCoin non-empty wallets has grown by +13.9%, and #Tether wallets have grown +15.7%. https://t.co/9K2y8UgOv9 pic.twitter.com/mxdkrgn36M
— Santiment (@santimentfeed) May 23, 2024
Tether maintains dominance of the stablecoin market with a share of 71.02% currently. USDC comes close behind, maintaining second place in terms of market dominance, with 20.94%.
At the time of publication, the price of Tether was quoted at US$0.9997 with no increase in the last 24 hours. USDC, in turn, was trading at US$0.9998 without rising in the same period.
USDC vs USDT: Which is the best stablecoin to invest in?
USDC vs USDT: which is better? Stablecoins are pegged to the US dollar, making them an attractive option for those interested in transacting in the cryptocurrency market. USDC and USDT are two of the most popular stablecoins available on the market today.
The choice between USDT and USDC depends on the user’s individual preferences and requirements. Although USDT is more widely used, USDC is considered more trustworthy due to its regulatory compliance and transparency. USDC has better transparency and regulatory compliance, while USDT has greater adoption.
Disclaimer:
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
Source: https://portalcripto.com.br/mercado-stablecoin-em-desenvolvimento-numero-de-carteiras-tether-e-usdc-registra-aumento/
