At the beginning of May 2022, USD Coin (USDC) had a capitalization of just over $48.4 billion.
According to CoinMarketCap, USDC capitalization reached $55.82 billion by mid-July as a result of the UST stabilitycoin crash and investors’ exit from Tether (USDT).
Traders began to invest in USDC after the USDT issuer ran into problems triggered by the collapse of the Terra ecosystem.