{"id":4918,"date":"2022-01-15T16:45:21","date_gmt":"2022-01-15T16:45:21","guid":{"rendered":"http:\/\/egrowonline.com\/?p=4918"},"modified":"2022-01-15T16:45:21","modified_gmt":"2022-01-15T16:45:21","slug":"stablecoin-usdcs-erc20-issuance-surpasses-usdts-total-supply-on-ethereum-altcoins-bitcoin-news","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=4918","title":{"rendered":"Stablecoin USDC’s ERC20 Issuance Surpasses USDT’s Total Supply on Ethereum \u2013 Altcoins Bitcoin News"},"content":{"rendered":"


\n<\/p>\n

\n
\n<\/header>\n
\n\"\"\n<\/div>\n

On Saturday, January 15, 2022, the market capitalization of all the stablecoins in existence is $173 billion, which represents 7.93% of the $2.18 trillion crypto-economy. The market valuations of stablecoins tether and usd coin represent 71.84% of the entire stablecoin economy\u2019s value. This week, the current total supply of usd coin surpassed tether, in terms of tokens issued on the Ethereum blockchain, as usd coin has a 0.568% larger fully diluted market capitalization on the smart contract network.<\/strong><\/p>\n

USDC Issuance on Ethereum Surpasses Tether\u2019s ERC20 Supply<\/h2>\n

The current total supply of the stablecoin usd coin (USDC) on the Ethereum blockchain is over 40 billion units<\/a>, which is higher than the number of tether (USDT<\/a>) on the chain. At the time of writing, according to etherscan statistics<\/a>, the current supply of USDT<\/a> is 39.8 billion units. While there\u2019s only 0.568% more USDC tokens than the number of tethers in circulation, it\u2019s the first time USDC has overtaken USDT<\/a> in terms of Ethereum issuance.<\/p>\n

\"\"
Total supply of USDC on January 15, 2022, according to etherscan.io metrics.<\/figcaption><\/figure>\n

While tether has seen 136,448,792 transfers total on the ETH<\/a> chain, USDC has only seen 33,104,877. Essentially, ERC20 tethers have been transacted with 312.17% more than USDC tokens have been transferred. Tether also has a lot more USDT<\/a> tokens across multiple blockchain networks with a current total supply of 79 billion tethers.<\/p>\n

\"\"
Total supply of USDT<\/a> on January 15, 2022, according to etherscan.io metrics.<\/figcaption><\/figure>\n

USDC is also on a few different blockchains, but the majority of USDC resides on Ethereum. USDC has a current total supply of 45.3 billion, which means 5.3 billion USDCs are used on alternative blockchains.<\/p>\n

Stablecoin Giants Eclipse Decentralized, Algorithmic Competitors Despite Double-Digit Monthly Growth<\/h2>\n

Both of these stablecoins are giants in comparison to the rest of the stablecoins in existence as they dominate 71.84% of today\u2019s stablecoin economy. During the last 24 hours, across the entire crypto-economy, there\u2019s been $78 billion in total trade volume. However, stablecoin trades represent $47.5 billion of today\u2019s trade volume or more than 60% of the aggregate.<\/p>\n

Statistics from coingecko.com\u2019s top stablecoin by market capitalization indicate that tether has increased its supply by 1.8% during the last 30 days. USDC\u2019s supply over the last month has increased by 8.9%. Decentralized and algorithmic stablecoin supplies have seen much larger increases during the last 30 days as UST, MIM, and FRAX increased by double-digit percentages. Terra\u2019s UST increased 22%, MIM jumped 17%, and FRAX increased by 46.4% over the last month.<\/p>\n

\n
\nTags in this story
\n<\/h6>\n
Altcoins<\/a>, Centralized stablecoins<\/a>, crypto economy<\/a>, ERC20<\/a>, ERC20 USDC<\/a>, ERC20 USDT<\/a>, ether<\/a>, Ethereum<\/a>, Ethereum (ETH)<\/a>, FRAX<\/a>, MIM<\/a>, Stablecoin Economy<\/a>, Stablecoin giants<\/a>, Stablecoins<\/a>, usd coin<\/a>, USDC<\/a>, USDC issuance<\/a>, USDT<\/a>, USDT issuance<\/a>, UST<\/a><\/div>\n<\/div>\n

What do you think about the current total supply of USDC surpassing tether\u2019s current supply on the Ethereum blockchain? Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>\n

\n
\n\n<\/div>\n
\n
\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

\n
\n
\n<\/a>
\n<\/span>\n<\/p>\n<\/div>\n<\/div>\n

Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons, etherscan.io, <\/em><\/p>\n

\n

Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

\n