Cryptocurrency card transactions reached $600 million in March, with USDC seizing market share from USDT.

CoinFeed reported on April 9th ​​that, according to The Block, monthly cryptocurrency transaction volume reached $600 million in March, more than double the $187 million a year earlier. USDT has been the dominant settlement currency in this growth, accounting for the vast majority of cryptocurrency transaction volume, consistent with its strong position in emerging markets such as Southeast Asia, Latin America, and Africa. However, USDT's market share is gradually shrinking, while USDC is gaining traction due to increased adoption in Western markets that value regulatory transparency and institutional backing. Changes in the stablecoin composition of cryptocurrency transaction volume can serve as a proxy for observing shifts in geographic distribution and user demographics; the rise in USDC's share indicates that the user base is expanding beyond USDT's traditional strongholds.