According to Arcane Research analysts, there is going to be continued growth in the capitalization of USDC, Circle's stablecoin, and a further drop in the market share of USDT, which is issued by Tether.
According to the company, USDC's capitalization will surpass that of USDT in October.
The company's researchers have noted that for a long time, USDT has enjoyed a first mover advantage, unrivaled in terms of market capitalization. However, in November last year, the token's market share among other stablecoins fell below 50% for the first time.
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Moreover, this year the decline in capitalization has continued: the indicator has fallen from $78 billion to the current $66 billion.
According to the firm's experts:
"The 15.5% reduction in supply corresponds to the annualized figure of 28.7%."
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On the other hand, the capitalization of USDT's main competitor, USDC, has grown from $42.2 billion to $55 billion this year, which corresponds to 70.4% year-on-year.