All USDC equipment on the Ethereum network exceeds all equipment on Tether.

The USDC cycle reached its peak by extending Tether (USDT) to all devices on the Ethereum network.

As of this writing, Ethereum's current USDC supply of 40.06 billion tokens is slightly higher than USDT's 39.82 billion token supply.

When Tether launched in late 2014, it was the most stable coin since at least 2016, when it was first traded with BitUSD and NuBits (USNBT) stablecoins. At the time, USDT was running on Omni. The USDC appeared transparent and vetting its competitors for Tether in 2018 as the latter two became frustrated with dollar discrepancies and user losses, and Tether questioned its supportive stance for years. cloud.

USDT is still the most profitable with total assets of 78.5 billion, but almost 50% of these assets (38.7 billion tokens) are in the Tron network. USDT can also be found on BSC, Solana, Huobi ECO Chain, Avalanche, Polygon and 13 other Layer 2 chains or solutions.

Currently, the USDC's total resources are 45.7 billion, spread across 21 chains or Layer 2 solutions.

For years, the public image of Tether has been tarnished by the question of how to fund Tether holders. Companies have argued over how to engage with and manage stablecoins.

Banking firm Moore Cayman announced two consolidated financial statements on Tether savings for 2021, but that didn't diminish credibility. In addition to other assets backing USDT, Tether announced in its new financial statements that the company holds $30.8 billion in undisclosed notes.

The Circle has been more transparent about his abilities, but not to the extent that some critics have claimed. In August 2021, Coinbase President Emily Choi announced that USDC retention for the second-largest securities market would be converted into cash and US Treasury bonds. This happened on October 27, 2021, according to independent accountant Grant Thornton.

Coinbase, a close partner of digital payment services Circle, helped found USDC in October 2018. Circle is sponsored by Bitmain, China Everbright Bank, and 8 other organizations.

We helped integrate the rules for each stablecoin. Circle CEO Jeremy Allaire backed Biden's November 2021 board pledge to stabilize insurers like banks. Allaire also participated in a hearing with several crypto industry leaders in December 2021 to discuss policy with the Financial Services Commission.

Although the centralized stability coins USDT, USDC and BUSD are currently in the top 3 of similar positions, decentralized stability coin solutions have started to emerge.

TerraUSD (UST) is the 4th largest fixed currency, but also the fastest stablecoin since November 2021. Since then, it has overtaken Magic Internet Money (MIM) and DAI (DAI) with a market capitalization of 10.7 billion of dollars.