Crypto: USDC Overtakes USDT in the European Market

Circle’s USDC has just surpassed Tether’s USDT in crypto trading against the euro. According to the latest data from Kaiko, its market share now reaches 56%, compared to only 10% in January 2024. The stablecoin is also gaining ground on liquidity, with order books 40% deeper than those of its rival. The European MiCA regulation has greatly accelerated this change. The ranking of stablecoins has changed on platforms offering trading against the euro. USDC now holds the top spot with 56% of volumes, according to data from Kaiko published this week. In January 2024, its share did not exceed 10%. The increase thus reaches 46 percentage points in less than three years. Meanwhile, USDT suffered restrictions imposed by MiCA in Europe .

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