JPMorgan reports that USDC has outperformed USDT in both on-chain activity and market cap growth due to a clearer regulatory environment. Its market cap rose to 74 billion USD, representing a 72% increase. Conversely, USDT’s lack of MiCA authorization has led to its delisting.
The upcoming MiCA regulations, effective in July 2024, favor USDC and enhance its adoption among financial institutions. USDC has established itself with transparent reserve management, earning trust and increasing circulation velocity, which poses risks for USDT’s market share.
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