Bitcoin’s dominance of 47.79% on Friday was the lowest since August 2018, as Ethereum and others saw their own market cap presence swell massively since the turn of the year.
The value of USD Coin in circulation jumped from $11 billion to almost $14.4 billion on Friday, meaning USD Coin now has a market cap worth 28% of the most utilized stablecoin, Tether , of which over 50 billion are in circulation.
Circle, which founded USD Coin in combination with well-known cryptocurrency exchange Coinbase, recently announced that it had tapped New York based Signature Bank to ensure the backing of USD Coin with appropriate reserves.