Coinbase Report: USDC supply has increased by 14.3% since last December, with a total market value of $28 billion

ChainCatcher news, Coinbase stated in a research report on Monday that the second-largest stablecoin by market capitalization, USDC, is recovering, with global liquidity increasing and usage rapidly growing outside the United States, leading to a sharp increase in supply over the past few months.

It is reported that since December 1, 2023, the supply of USDC has increased by 14.3%, exceeding $3.5 billion, bringing its total market capitalization to $28 billion, while the growth of USDT during the same period was smaller, at only 8.7%.

In addition, the total market capitalization of USDC has been growing faster than its larger competitor, Tether's USDT, in recent months. Since the beginning of December last year, the supply of USDC has increased by over 14%. The increase in liquidity indicates that new funds have flowed in following the U.S. launch of the spot Bitcoin ETF. The influence of this stablecoin in non-U.S. markets is strengthening.