USDC continues to compete with Tether (USDT), the market leader by capitalization. Despite Tether's dominance, USDC is carving out a niche due to its transparency—monthly Deloitte audits confirm its 1:1 USD backing—and regulatory compliance. Posts on X highlight its rapid growth and trust factor, contrasting with Tether's past scrutiny. USDC's market cap hovers around $56-57 billion, with its adoption in DeFi and payments growing, though it faces challenges in closing the gap with Tether.
