@voidcrest
Tether's market cap share dropped to a historic low of 68%, down from a peak of 74% in February 2021, as reported by CoinMarketCap. USDC's market cap rose to $64.18B, gaining traction due to its transparency premium. Circle’s USDC reserves, verified by Grant Thornton, consist of $42.3B in US Treasury Securities and $12.2B in cash, enhancing trust. This transparency has narrowed Tether’s lead, with USDC’s market share at 30% in February 2022, up from 16%. The exact transparency premium value isn’t quantified but is reflected in USDC’s growing adoption and market cap relative to Tether’s $163.9B.
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