Glassnode's data shows that the daily transfer value of USDC on the ethereum blockchain has been higher than USDT throughout 2022. for example, as of November 22, the daily transfer value of USDC was approximately $14 billion, compared to USD5 billion for USDT. The market capitalisation of USDC tokens in circulation is approximately $44 billion compared to USD65.42 billion for USDT, with USDC users participating in relatively more fund transfers compared to USDT users, suggesting that USDC is increasingly becoming the stablecoin of choice for institutional whales, hedge funds, family offices, crypto exchanges and other high net worth entities.