USDC Is Making a Comeback: Coinbase

USDC’s increase in liquidity reflects the “overall pickup in both retail and institutional demand as crypto has moved into a new phase of its market cycle after the launch of spot bitcoin ETFs in the U.S., contributing to fresh capital inflows,” the authors wrote.

A stablecoin is a type of cryptocurrency that’s typically pegged to the U.S. dollar, though some other currencies and assets such as gold are also used.