Stablecoin Market Surges Over $200 Billion, USDC Gains Momentum

The stablecoin market has surpassed $200 billion, primarily driven by Tether's USDT and USDC. Since early November of the previous year, the market increased by $37 billion.

USDC is gaining market share from USDT, supported by altcoin trades.
USDC is nearing a key resistance level, reminiscent of its price movements in 2021.
USDC benefits from strong institutional support and regulatory clarity, favoring it over USDT.

While USDC and USDT dominate the market, smaller stablecoins have stagnated with little growth. Issues like liquidity and lack of institutional backing affect these alternatives. The stability of the overall market raises concerns due to reliance on only two major coins.

If USDC surpasses its resistance level, this could indicate a shift towards risk aversion among investors.
USDC's rise during altcoin downturns suggests investors are prioritizing stability.