Stablecoins USDC and USDT hit new all-time highs, boosting crypto market

• • USDC value exceeds $56 billion.
  • USDT records new all-time high.
  • Stablecoins drive the market.

Major stablecoins Circle’s USDC and Tether’s USDT have recently hit new all-time highs, fueling a wave of optimism in the crypto market and the sector. In a significant development, both cryptocurrencies have reached new milestones in terms of their respective market caps.

USDC, the stablecoin issued by Circle, has surpassed the $56 billion market cap mark. This impressive milestone not only demonstrates the growing relevance of stablecoins in the crypto space but also signals a positive development for the market as a whole.

What has driven USDC’s meteoric rise? Several factors have contributed to its success, including the growing utility of stablecoins in the cryptocurrency space. Major financial institutions have increasingly used stablecoins to facilitate global payments and explore decentralized finance (DeFi).

It is worth noting that this USDC milestone comes at a time when another stablecoin, Tether (USDT), has also reached a new all-time high in market capitalization, surpassing $141,40 billion, as per data from the CryptoQuant platform shared by renowned cryptocurrency analyst Ali Martinez. This scenario demonstrates the growing interest and demand for stablecoins in the cryptocurrency market.

All in all, USDC and USDT recording a new record market cap is a significant milestone that reflects the growth and relevance of stablecoins in the crypto market. This positive development could boost the market as a whole, attracting new investors and promoting the widespread adoption of cryptocurrencies.

Tether and Reelly Tech Expand Usage of USDT in UAE Real Estate Market

Tether signed Reelly Tech has entered into a Memorandum of Understanding (MoU) with Reelly Tech, a leading B2B real estate platform in the United Arab Emirates (UAE). The agreement will enable the integration of USDT into real estate transactions, facilitating the use of the stablecoin for Reelly Tech’s more than 30.000 local and international agents. The initiative aims to streamline processes, increase efficiency and drive cryptocurrency adoption in the region’s real estate sector.

As part of the partnership, Tether and Reelly Tech will launch an interactive educational series within the platform, aimed at industry players. The content will cover the use of stablecoins in real estate transactions, explaining how USDT can provide greater security and efficiency in real estate purchases. Paolo Ardoino, CEO of Tether, highlighted the importance of the collaboration for the market: “Together, we aim to simplify real estate transactions, drive sustainable growth and set new standards for innovation in the region.”