The capitalization of USDC was just over $48.4 billion at the beginning of May.
According to CoinMarketCap, as a result of the collapse of the UST stablecoin and the exit of investors from Tether, the USDC capitalization reached $55.82 billion by mid-July.
Traders started to invest in USDC after the issuer of USDT faced problems provoked by the collapse of the Terra ecosystem.
According to Santiment, the reserves of USDT whales, which control between $100,000 and $10 million in the stablecoin, have decreased by more than 50%.
Almost all the funds of large and medium wallets went to USDC, which led to a sharp increase in its capitalization.
