Why is the market cap of USDC increasing rapidly?

1 answers

• Mar 17, 2022 · 3 years ago
  As an expert in the cryptocurrency industry, I can tell you that the market cap of USDC is increasing rapidly due to its strong fundamentals and growing adoption. USDC is backed by a reserve of US dollars, which ensures its stability and value. This makes it an attractive option for traders and investors who want to avoid the volatility of other cryptocurrencies. Additionally, USDC has gained traction in the decentralized finance (DeFi) space, where it is used for various purposes such as lending, borrowing, and liquidity provision. The increasing usage of USDC in DeFi protocols has contributed to its rising market cap.
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