Capital beginning to flow into USDT out of USDC

Capital is starting to travel into USDT retired of USDC, according to Glassnode information analyzed by CryptoSlate. 

USDT v. USDC (Source: Glassnode and Cryptoslate)

The illustration supra shows the marketplace headdress of USDT and USDC – some stablecoins that are pegged to the US dollar – since March 2021. 

Beginning successful Jan. 2023, a inclination reversal started to instrumentality shape, with USDC losing marketplace headdress adjacent to the complaint of USDT gaining it. 

USDC presently has a marketplace headdress of US$40.69 billion, portion USDT presently sits atop a marketplace headdress of US$68.48 billion. 

The quality comes connected the heels of a wider shakeup successful the stablecoin industry, with regulators successful the US opening to scrutinize the issuance of BUSD by Paxos. 

The station Capital opening to travel into USDT retired of USDC appeared archetypal connected CryptoSlate.