Circle's USD Coin has surpassed Tether's USDT as the world's largest stablecoin in terms of transactions.
According to Visa's blockchain analysis, USDC recorded 166.6 million transactions in April 2024, while USDT had 163.6 million transactions.
In December 2023, USDC's 145 million monthly transactions exceeded USDT's 127 million transactions for the first time, Visa reported.
With a market capitalization of more than $110 billion and representing 68% of the total stablecoin market share, Tether is more than three times the size of USDC, which currently stands at $33.5 billion.