I just saw that Circle is claiming USDC has 70% of the stablecoin market now. Seems like they're trying to hype themselves up after the launch of $OUSD. I haven't used USDC at all, only USDT, and this feels like just marketing fluff to me. Anyone here actually use USDC? What do you think?
I think USDC's numbers might look good because its volume is more visible in the DeFi space. Meanwhile, USDT is mainly used on centralized exchanges. That being said, USDT still has a larger market cap, especially in developing countries. We shouldn't just look at on-chain data to draw conclusions. It's all about what fits people's needs.
Honestly, I believe the claim is kinda legit. USDC has been leading in stablecoin volume this year compared to USDT. But I'd say it's more like 66.6% USDC and 33.3% USDT. Saying USDC owns 75% is kinda off because USDT often takes the lead too. I'm an active stablecoin user and I usually stick to USDC since the CCTP makes transactions smoother.