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Why USD Coin [USDC] may not yet be ready to overtake Tether [USDT]
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Tether [USDT] must surely feel USD Coin [USDC] breathing down its neck in terms of market cap ranking as investors look at the wreckage of TerraUSD [UST] and re-assess their stablecoin preferences. To that end, two metric-based milestones go a long way in telling us about the demand for USDC – and its potential future.
Glassnode reported that USDC liquidity on Uniswap has been hitting lows last seen around 16 months ago. Why is this significant? Well, falling liquidity on Uniswap is a sign of high demand and could indicate that users are gravitating towards stablecoin.
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