USDC Market Cap Nears $80 Billion All-Time High, Total Stablecoin Market Cap Up 0.93% in One Week

BlockBeats News, March 14th, according to DefiLlama data, the current total market capitalization of stablecoins across all networks is reported to be $315.9 billion, with a 0.93% growth in the past week. The market capitalization of USDC is approaching a historic high of $80 billion, accounting for approximately 25% of the market.

Dubai analyst Rami Al-Hashimi has linked this surge in demand to capital outflows from the UAE. Dubai property prices have fallen by about 27% this month, with the DFM Real Estate Index, which tracks Dubai-listed real estate and construction companies, dropping from a recent high of around 16,800 points to about 11,516 points, a decrease of about 31%. The off-market trading platform in Dubai is currently facing a high demand for USDC, with some property sellers starting to accept cryptocurrency payments and offering a 5% to 10% discount to buyers paying with BTC.