Binance has seen a significant increase in USD Coin (USDC) due to MiCA regulations and the removal of USDT for EU users.
The Rise of USDC on Binance
According to CryptoQuant data, USDC's presence on Binance skyrocketed by 1,621% in the past year. The implementation of MiCA regulations led EU crypto platforms to delist non-compliant stablecoins, giving USDC a competitive edge. Binance's decision to remove USDT for EU users by March 31, 2025, further solidified USDC's position.
Challenges for Tether
MiCA regulations are pushing EU crypto platforms towards compliant stablecoins. Major players like Coinbase and Crypto.com are delisting USDT, putting Tether's market share at risk. Tether has warned that rapid regulatory shifts could lead to instability and is reevaluating its European strategy, including tokenization platforms like Hadron and Quantoz.
Future Prospects of Stablecoins
With the launch of MiCA-compliant stablecoins like Quantoz's EURQ and USDQ, Tether aims to maintain its presence in the EU. However, the ongoing delisting of USDT from major crypto platforms drives users towards alternative coins. The critical question in the coming months is whether Tether can sustain its global dominance.
The continued rise of USDC, coupled with regulatory challenges for Tether, may shift the balance of power in the stablecoin market in the near future.
