The market value of USDC is close to a historical high of 80 billion US dollars, and the surge in demand from the Middle East may be the main reason

According to Cointelegraph, driven by the surge in demand in the Middle East, the market value of USDC stablecoins has reached a historic high of nearly $80 billion. In recent weeks, the supply of this stablecoin has increased by billions of dollars, and its market value has grown from slightly over $70 billion in early February to $75 billion at the beginning of this month. Rami Al Hashimi, an analyst who claims to be based in Dubai, said that this growth may be related to capital outflows from the United Arab Emirates.