Research: USDC adoption grows post-FTX collapse; USDT remains flat

After a brutal sequence of events led to the collapse of several crypto-related firms in 2022, FTX’s bankruptcy dealt a massive blow to public trust in centralized crypto entities.

During this period of heightened market volatility, crypto investors preferred Circle’s USD Coin (USDC) to Tether’s USDT. According to Glassnode’s data, while USDT is the largest stablecoin by market cap, USDC has more transfer volume.