The total supply for stablecoin USDC has risen by 42% since March 1
The supply for the USDC stablecoin has jumped considerably since the beginning of the month.
The market capitalization for the dollar-backed stablecoin has climbed by roughly $200 million since March 1, now surpassing the $600 million benchmark. This determine represents a 42% enhance, based mostly on information collected by The Block.
According to a Wednesday weblog publish by cryptocurrency change Coinbase, “more and more consumers and institutions turn to USDC as a trusted means to weather the turbulence.”
Earlier this week, MakerDAO’s governance neighborhood accepted USDC as a brand new collateral asset in its protocol as its third collateral sort after ETH and BAT.
USDC is primarily issued by Coinbase and Circle, although the companies stated final 12 months that they goal to broaden the pool of issuers and redeemers, as reported by The Block.