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Think this is a chart that most people don’t have on their radar.
Tether is usually seen as the undisputed stablecoin king, and for now that’s still true in terms of total supply.
However, I was pretty surprised to see that over the last few months Circle has consistently flipped Tether in transaction volume. Last month, $USDC volumes even reached new ATHs, more than twice as high as $USDT's.
This is particularly interesting because:
1) Tether is valued roughly 20x higher than Circle’s current market cap
2) You can actually buy $CRCL on the open market, while Tether remains a private company
Definitely keeping this trend on my radar. If it continues, while $USDC supply growth also starts outpacing Tether’s, this might become one of the most obvious ways to bet on the biggest no brainer use case of crypto.