Back to Square One? Circle's USDC Market Cap Drops Below $50B for First Time Since Terra's Collapse

“BUSD has seldom been used in DeFi and is not near the top 10 pools of Curve, Uniswap, Aave etc. USDC usage, however, remains strong. Four of the top five Uniswap pools contain USDC,” Teander said. “Over the last seven days, USDC pools, compared, have accounted for over 50% of the swaps, 77% of the volume, and 63% of the fees generated of the top Uniswap V3 pools.”