Will USDC Market Cap be above $24B at the end of 2023
12
Ṁ321Ṁ1.4kresolved Jan 1
Resolved
YES1H
6H
1D
1W
1M
ALL
Currently $24.563B
This question is managed and resolved by Manifold.
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Currently Market Cap $24,512,018,073
At 0:00 UTC 24.493
At claim close time around 24.485
@RobinBruce
I’m interested in peoples theses in this market. My priors are that USDT is partially unbacked / in a cyclical relationship with the crypto assets backing it. I believe USDC to be fully backed.
The loss of market cap is partly ordinary market participants cashing out where there is a functional offramp to dollars. I think it’s also partly due to people with an interest in the tether peg holding swapping USDT for USDC for real dollars and using some or all of that real money to handle redemptions, manage confidence in the backing and to protect the peg
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