USDC has dethroned USDT as the most liquid stablecoin on centralized exchanges.
An analysis by crypto market data provider Kaiko revealed that USD Coin is currently the most liquid stablecoin on centralized exchanges , with approximately $38 million bids preventing a .1% price deviation of the asset.by Kaiko includes the .1% bid-side depth across all markets that use USDC as a base asset.that while stablecoin issuers like Circle and Tether ensure their tokens maintain their parity, de-pegging could still occur on spot markets.
“Theoretically, stablecoin issuers maintain their peg. However, de-pegging can still happen on spot markets, especially considering #USDT redemptions start at $100k. Stablecoin spot markets are thus extremely important for price discovery. This data aggregates .1% bid-side market depth across all markets that include the stablecoin as a base asset,” KaikoThe latest development is significant for USDC, as USDT has always been in the lead.
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