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 Wallets with USDC stablecoin grew by 59 in 2023 despite circulation drop

Wallets with USDC stablecoin grew by 59 in 2023 despite circulation drop


Published: 2024-01-16


1. Increase in Wallets Holding USDC Stablecoin According to a report by Circle,wallets holding the USDC stablecoin experienced a significant increase of 59 percent in 2023,despite a drop in circulation. This indicates a growing interest and adoption of USDC among cryptocurrency users. The rise in wallets holding USDC suggests a higher demand for stablecoins and their utility in various transactions and investments. This trend highlights the potential shift towards stablecoins as a reliable digital currency alternative.

2. Reasons Behind Circulation Drop Although the number of wallets holding USDC increased,the report revealed a decrease in circulation. This could be attributed to factors such as investors moving USDC to decentralized finance (DeFi) platforms or locking them up for staking purposes. The decrease in circulation might also be a result of users opting to hold their USDC tokens rather than actively using them for transactions. However,this does not diminish the growing popularity and adoption of USDC among digital currency users.

3. Implications for the Cryptocurrency Market The significant growth in wallets holding USDC stablecoin indicates a positive sentiment towards stablecoins in the cryptocurrency market,as they offer stability and reliability compared to other volatile cryptocurrencies. The rise in USDC wallets suggests a potential shift in investors' preferences towards more stable digital assets. This trend could also be influenced by increasing regulatory scrutiny and the need for more regulatory-compliant digital currencies. The growth in USDC wallets could potentially attract more users and encourage them to explore the benefits of stablecoins for various financial activities,including payments,remittances,and lending. Overall,the data provided by Circle's report highlights the increasing popularity of USDC and its potential to become a mainstream digital currency in the future. The growth in wallets holding USDC stablecoin indicates a growing demand for stable digital assets,potentially redefining the way individuals and businesses use cryptocurrencies in their day-to-day transactions.


Reference: cointelegraph.com

The most traded coin


(Update every 1 hour)
at from is ($US) turnover ($)
1 ARS title=ARS 1,093.30 1,407,063,793.80
2 BTC title=BTC 63,679.99 1,210,303,092.65
3 ETH title=ETH 3,129.96 701,106,688.91
4 SOL title=SOL 145.24 312,254,561.21
5 PEPE title=PEPE <0.01 301,379,486.76
6 DOGE title=DOGE 0.16 277,070,631.68
7 WIF title=WIF 3.19 161,919,170.80
8 WLD title=WLD 5.68 129,090,135.12
9 BOME title=BOME 0.01 114,514,214.73
10 NEAR title=NEAR 7.44 104,953,783.01
11 RNDR title=RNDR 9.86 99,638,027.48
12 BONK title=BONK <0.01 83,840,657.75
13 AR title=AR 39.14 76,830,142.84
14 ETHFI title=ETHFI 4.00 75,434,887.53
15 ENA title=ENA 0.81 73,704,352.32
16 AVAX title=AVAX 37.06 69,120,768.64
17 ARKM title=ARKM 2.60 68,360,658.93
18 FLOKI title=FLOKI <0.01 67,056,438.49
19 XRP title=XRP 0.53 62,275,391.74
20 GLM title=GLM 0.61 53,419,647.39
21 SUI title=SUI 1.10 50,190,747.92
22 OP title=OP 2.92 45,367,637.53
23 ORDI title=ORDI 39.54 39,806,577.45
24 RUNE title=RUNE 5.22 37,367,142.22
25 AGIX title=AGIX 0.96 35,530,421.58
26 FIL title=FIL 6.13 34,374,760.47

Coins with rapidly rising prices


(Update every 1 minute)
at from is ($US) more (%)
1 Arkham title=ARKM 2.60 +13.43
2 NFPrompt title=NFP 0.50 +12.81
3 Worldcoin title=WLD 5.68 +11.29
4 Cortex title=CTXC 0.36 +10.40
5 Ethernity Chain title=ERN 4.51 +9.41
6 Render title=RNDR 9.86 +9.24
7 Arweave title=AR 39.14 +9.05
8 Any Inu title=AI 1.16 +9.05
9 TerraClassicUSD title=USTC 0.02 +8.09
10 NEAR Protocol title=NEAR 7.44 +8.08
11 Reserve Rights title=RSR <0.01 +7.67
12 SingularityNET title=AGIX 0.96 +7.08
13 Golem title=GLM 0.61 +6.96
14 Cosmos Hub title=ATOM 9.31 +6.95
15 AdEx title=ADX 0.22 +6.69
16 Ocean Protocol title=OCEAN 0.98 +6.68
17 IQ title=IQ 0.01 +6.36
18 Flux title=FLUX 0.96 +5.88
19 BarnBridge title=BOND 3.20 +5.72
20 Vanar Chain title=VANRY 0.19 +5.55
21 dYdX title=DYDX 2.29 +4.77
22 Phala title=PHA 0.20 +4.56
23 Numeraire title=NMR 26.37 +4.48
24 SelfKey title=KEY <0.01 +4.44
25 iExec RLC title=RLC 2.78 +4.27
26 Osmosis title=OSMO 0.92 +3.64
27 JasmyCoin title=JASMY 0.02 +3.21
28 Paris Saint-Germain Fan Token title=PSG 5.05 +3.19
29 PlayDapp title=PDA 0.08 +3.11
30 Pyth Network title=PYTH 0.56 +2.85

The price of coins is falling rapidly.


(Update every 1 minute)
at from is ($US) reduce (%)
1 REZ 0.18 -8.68
2 W 0.67 -8.56
3 dogwifhat title=WIF 3.19 -6.79
4 BOOK OF MEME title=BOME 0.01 -6.52
5 Komodo title=KMD 0.39 -6.38
6 Pepe title=PEPE <0.01 -5.51
7 Bonk title=BONK <0.01 -5.24
8 LeverFi title=LEVER <0.01 -5.09
9 SafePal title=SFP 0.80 -4.66
10 RAD title=RAD 1.78 -4.55
11 DataBot title=DATA 0.06 -4.35
12 Ethena title=ENA 0.81 -4.16
13 1000SATS (Ordinals) title=1000SATS <0.01 -4.14
14 Stacks title=STX 2.30 -4.06
15 Cats Of Sol title=COS 0.01 -3.95
16 FLOKI title=FLOKI <0.01 -3.91
17 Shentu title=CTK 0.70 -3.91
18 Lisk title=LSK 1.91 -3.34
19 ORDI title=ORDI 39.54 -3.28
20 Voyager title=VGX 0.09 -3.22
21 Lido DAO title=LDO 2.02 -3.21
22 Jito title=JTO 3.43 -3.16
23 Request title=REQ 0.13 -3.10
24 Clover Finance title=CLV 0.07 -3.08
25 Voxies title=VOXEL 0.24 -2.97
26 TROY title=TROY <0.01 -2.97
27 Aevo title=AEVO 1.42 -2.94
28 Alpaca Finance title=ALPACA 0.18 -2.92
29 Ether.fi title=ETHFI 4.00 -2.89
30 Amp title=AMP <0.01 -2.83

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15 FOMC Member Bowman Speaks Friday 10-05-2024 14:00
16 Prelim UoM Consumer Sentiment Friday 10-05-2024 15:00
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18 FOMC Member Barr Speaks Friday 10-05-2024 18:30
19 Federal Budget Balance Friday 10-05-2024 19:00

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