The stablecoin USD Coin (USDC) has significantly increased its share on the Binance exchange. This growth is driven by regulatory changes in the European Union and Binance's decisions.
USDC's Rise on Binance
According to data from CryptoQuant, USDC's presence on Binance has surged by 1,621% in the last year. The implementation of MiCA regulations compels EU crypto exchanges to delist non-compliant stablecoins. Binance has announced it will not offer USDT to EU users starting from March 31, 2025, shifting focus to USDC.
Tether's Challenges in Europe
MiCA regulations are driving EU crypto exchanges to switch to compliant stablecoins, threatening Tether's market share in the region. Major platforms like Coinbase and Crypto.com have already removed USDT from their offerings in the EU, increasing the risks for Tether.
Global Dominance of Tether Under Threat
The delisting of USDT from leading crypto platforms is pushing users toward alternative coins. Tether is trying to maintain its presence in the EU by investing in tokenization platforms, but the success of their strategy remains uncertain.
In a rapidly changing market, USDC is strengthening its position while Tether faces challenges. Future developments will depend on Tether’s ability to adapt to new regulations.
