Analysts at CryptoQuant have published a report in which they reported that the share of the USDC stablecoin on the world’s largest crypto exchange Binance increased by 2024% in 1621.
According to experts, regulatory changes have had a significant impact on the stablecoin sector over the past 12 months, which has given USDC the opportunity to sharply increase its position on the exchange.
Experts cited data reflecting the increasing dominance of USDC on the crypto exchange Binance to 8,26% in 2024. They noted that in 2024, the share of the USDT stablecoin on the exchange Binance accounted for more than 68%, while USDC accounted for no more than 0,48%.
It is worth recalling that on March 31 Binance will cease all trading operations in a number of stablecoins for customers in the European Economic Area as they do not comply with MiCA requirements.
According to CryptoQuant, the new MiCA legislation will further transform the EU market towards a more stringent approach to digital assets, including stablecoins. In this situation, the share of USDC on Binance This year may continue to show growth, experts believe.