Tether's USDT Gains Market Share Over Circle's USDC Amid DeFi Hacks
Tether's USDT has seen a significant increase in market cap following major DeFi hacks, outpacing Circle's USDC. USDT's market cap rose 2.1% to $188 billion, while USDC's increased by 1.4% to $78.25 billion. Analysts suggest DeFi outflows may pressure USDC's on-chain circulation, affecting Coinbase and Circle's profits.
Topics: crypto hacks DeFi investor behavior liquidity market cap stablecoins Tether USDC