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[AudraMiller]

The use of stable coin has become extremely important especially since there is so much volatility in the market at the moment that many are trying to secure their funds. However in a recent turn of events it seems the USDC coin is starting to dominate the stable coin side of the cryptocurrency market even more so than USDT.

According to a report that was released yesterday it seems that the USDC volume that has been traded on exchanges has increased by over 112% in the first month of 2021 alone. As a result of this increasing its volume the physical or cash value that has increased was 431 million dollars. This is more so than the USDT coin.

Do you think that we may be seeing a new stable coin that will dominate the market in the future?

 

[Niftyicon]

I guess USDC is becoming the people's favourite or could it be that it is more accessible for people to use compared with the USDT.

 

[AudraMiller]

I guess USDC is becoming the people's favourite or could it be that it is more accessible for people to use compared with the USDT.

This would most likely be the case, however it is quite surprising to me as most of the exchanges that I have seen have more trades with cryptocurrency and the USDT pair over the USDC pair. Perhaps there is a better network that can offer them faster transaction fees and faster confirmation times.

 

[Josemendez]

Is quite surprising indeed considering the popularity of usdt in the cryptocurrency world . However new coins prefers usdc to usdt .this is something am yet to know the reason

 

[Niftyicon]

This would most likely be the case, however it is quite surprising to me as most of the exchanges that I have seen have more trades with cryptocurrency and the USDT pair over the USDC pair. Perhaps there is a better network that can offer them faster transaction fees and faster confirmation times.

It was quite surprising too. I have always heard more about USDT than USDC but I would also say that it is likely because of my circle of users.

 

[AudraMiller]

It was quite surprising too. I have always heard more about USDT than USDC but I would also say that it is likely because of my circle of users.

In the crypto-currency exchange that I am using the 24-hour volume for the USDT stablecoin is around 2 Bitcoin, however that for USDC is less than 0.05 BTC. So in all honesty I am yet to find an exchange where the usdc coin is actually doing better than the USDT coin.

 

[GoldenLady]

This would most likely be the case, however it is quite surprising to me as most of the exchanges that I have seen have more trades with cryptocurrency and the USDT pair over the USDC pair. Perhaps there is a better network that can offer them faster transaction fees and faster confirmation times.

I use Luno and they just added USDC as a pair to other currencies.

I've previously not known anything about it, but I am not really a fan of stable coins. No fun at all.

 

[AudraMiller]

I use Luno and they just added USDC as a pair to other currencies.

I've previously not known anything about it, but I am not really a fan of stable coins. No fun at all.

Haha they may not be any fun but sometimes when the market is this volatile it is a good thing in order to try and secure your funds and make sure that you don't lose anything if you are new to trading or if you do not want to trade in the first place.

 

[GoldenLady]

Haha they may not be any fun but sometimes when the market is this volatile it is a good thing in order to try and secure your funds and make sure that you don't lose anything if you are new to trading or if you do not want to trade in the first place.

Yes, stable coins are definitely good if you want to avoid the volatile market.

But sometimes, you can miss out on a sudden increase in a coin, and if it doesn't come down, it means you will have to purchase it at that price.

 

[Wisdom01]

I think the are of the same value and maybe the exchange sites using usdc and pairs are more than the usdy , maybe that is what makes it have more value

 

[achawaskey]

I think so, and if the trend continue it will not take much time for it to gain wider acceptance. I think the coin worth investment. I will monitor it within few days time.

 

[AudraMiller]

I think so, and if the trend continue it will not take much time for it to gain wider acceptance. I think the coin worth investment. I will monitor it within few days time.

As a stable coin I doubt that there would be much room for investment into this coin or much room for growth as well in the future, because it will be highly tied to the value of the dollar. SO there may be slight fluctuations, but it may not be anything that warrants the investment into the coin.

 

[Niftyicon]

As a stable coin I doubt that there would be much room for investment into this coin or much room for growth as well in the future, because it will be highly tied to the value of the dollar. SO there may be slight fluctuations, but it may not be anything that warrants the investment into the coin.

That is how it is with stable coins. Investing in them makes less sense because your funds remain as it were. However, they are useful when you want to avoid fluctuations or to buy other Cryptocurrencies.

 

[Josemendez]

That is how it is with stable coins. Investing in them makes less sense because your funds remain as it were. However, they are useful when you want to avoid fluctuations or to buy other Cryptocurrencies.

Yeah . Virtually all existing cryptocurrency has usdt or usdc as a pair and this makes it easier for one to swap one crypto through them .

 

[Aadrika]

I think so, and if the trend continue it will not take much time for it to gain wider acceptance. I think the coin worth investment. I will monitor it within few days time.

Its a stable coin so i think you shouldnt just bother investing in it as investment and expect it to rise progressively , its paired to other coin for trading

 

[Josemendez]

Its a stable coin so i think you shouldnt just bother investing in it as investment and expect it to rise progressively , its paired to other coin for trading

In addition , it is used for saving our invested cryptocurrency from high volatility associated with cryptocurrency. Many people save their profit in usdt.

 

[BullyMaguire]

Perhaps because of the problem with USDT.. i heard about it. But im still using USDT on my trades but I'm considering using USDC now because looks more.. secure?

 

[Kunkun]

Stable coins have both advantages and disadvantages, although it's not the best option for investment, it goes well as a complete to ones investment

 

[sh199]

The use of stable coin has become extremely important especially since there is so much volatility in the market at the moment that many are trying to secure their funds. However in a recent turn of events it seems the USDC coin is starting to dominate the stable coin side of the cryptocurrency market even more so than USDT.

According to a report that was released yesterday it seems that the USDC volume that has been traded on exchanges has increased by over 112% in the first month of 2021 alone. As a result of this increasing its volume the physical or cash value that has increased was 431 million dollars. This is more so than the USDT coin.

Do you think that we may be seeing a new stable coin that will dominate the market in the future?

As far I know USDT facing some serious legal issues that impact their market also. Investors are now backing off from USDT and starting looking for another stable coin like DAI, USDC, and other coins also. I think USDT will need much time to recover from this situation.