🏀TradFi Adoption Propels USDC Rebound
DeFi Alpha
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Circle published a comprehensive report examining the recent performance of its USDC stablecoin. Despite USDC's market cap falling significantly in 2023, Circle notes a 59% increase in the number of wallets holding at least 10 USDC alongside an uptick in transaction volume, attributing the data to increasing adoption from the traditional banking sector.
Ethereum hosted a record 22.7 transactions per second on Jan. 14. The milestone coincided with Ether's supply dropping to new post-merge lows amid a persistently high burn-rate.
Plus, upstart Ethereum Layer 2s Mantle and Metis both deployed testnet deployments for major forthcoming upgrades.
✍️ In today’s newsletter:
- Circle touts tradfi adoption of USDC
- Ethereum's on-chain activity soars to new highs
- Mantle launches v2 iteration on testnet
- Metis invites community to test decentralized sequencer
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🎬 WATCH
In this week's Crypto with Cami, we explore the aftermath of spot Bitcoin ETF approval. Also watch our podcast with Matt Hougan, the CIO of Bitwise, to get his take on what the launch of spot Bitcoin ETFs means for the digital asset markets and web3 sector.
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