On the Ethereum network, USDC’s real volume has nearly doubled that of USDT in the past 24 hours, which could be another sign that the top stablecoin’s dominance is coming to an end.
Total Supply News
The total supply of a cryptocurrency refers to the number of tokens that exist, whether in circulation or locked. At a given time, these tokens are publicly tradable via exchanges, both centralized and decentralized.
A project might mint more cryptocurrency than it distributes at a given moment. For instance, in a particular cryptocurrency project, tokens set out for staking rewards will only technically exist on the blockchain, as they won’t reach anyone’s wallet until a specific condition has been met. Moreover, most cryptocurrencies have a burning mechanism to control inflation. Burned tokens aren’t considered when counting the total number of tokens. Burning refers to the process of sending tokens into an inactive crypto wallet designed to take the tokens out of circulation forever. People often confuse the total supply and maximum supply of coins. The total supply indicates all the tokens issued minus burned tokens. The max supply, on the other hand, refers to all tokens that will ever be created.
A separate graph also saw USDC and BUSD supply drop sharply in May, however both have since rebounded and are close to being back to their respective all-time high levels.3803
The total supply for USDC on Ethereum has surpassed that of Tether, putting USDT in second place on Ethereum for the first time.10442
Fractals, bullish technical analysis patterns and the fact that 67% of the total supply is staked are key reasons why analysts expect ATOM to hit new highs shortly.36767
The $3 billion USDC influx puts the total supply of the stablecoin at around $14,4 billion, reaching over a quarter of Tether's market cap.22951