Here’s what happened in crypto today

Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.

Today in crypto, USDC’s market cap is approaching a record $80 billion amid turmoil in Dubai’s real estate market, a US federal appeals court knocks back Custodia Bank’s request to review the Federal Reserve’s authority in granting master accounts. Meanwhile, the Ethereum foundation outlines how it will balance core values with ecosystem development.

The market capitalization of the USDC stablecoin is approaching a record high near $80 billion as demand surges in the Middle East, with one analyst linking the spike to capital flight from the United Arab Emirates.

According to data from CoinMarketCap, USDC (USDC)’s circulating supply has risen to roughly $79.2 billion, marking a new all-time high for the dollar-pegged stablecoin. The stablecoin’s market cap previously hit a high of below $79 billion in December last year.

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