USDC’s trading volume reached $456 billion last week, surpassing USDT’s $89 billion trading volume

According to data compiled by Visa Inc., Circle Internet Financial's stablecoin has surpassed Tether in trading volume this year. The data shows that since the beginning of 2024, Circle's USDC has been gaining market share, with last week's trading volume reaching $456 billion, while Tether's USDT trading volume was $89 billion. Since January, USDC has also accounted for 50% of total trading volume. Visa established a partnership with Circle in 2020, but did not explain the reason for the increase in USDC usage.