Odaily News Coinbase said in a research report on Monday that Circles USDC is the second-largest stablecoin by market capitalization, with supply increasing sharply in recent months as global liquidity increases and usage outside the United States grows rapidly. Analysts David Duong and Li Liu wrote: “Since December 1, 2023, USDC’s supply has grown 14.3% to more than $3.5 billion, bringing its total market capitalization to $28 billion, while USDT has experienced smaller growth over the same period , at 8.7%.” USDT issued by Tether is by far the largest stablecoin, with a market capitalization of $98 billion. (CoinDesk)