Capitalization of the USDC stabelcoin has fallen by $10 billion since the beginning of March

Tether stabelcoin (USDT) has significantly strengthened its market position over the month amid capital outflows from the USDC token. USDT’s share on the market of digital currencies pegged to the dollar reached a 22-month high.
Since March 10, traders have withdrawn more than $10 billion from the USDC after U.S. authorities closed Silicon Valley Bank.
Circle, the company that issues USDC, was able to reestablish the peg of stabelcoin to the U.S. dollar. However, the lion’s share of capital withdrawn from this digital asset still went to Tether. The market supply of USDT at the end of March is approaching $80 billion, while USDC’s capitalization has shrunk to $33.243 billion.

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