Analysts point out that Binance's five-year business agreement will promote USDC and integrate it into the platform, a move expected to enhance USDC's appeal in emerging markets and global transactions, even though Tether (USDT)'s liquidity advantage remains unshakable. Since their initial collaboration in December 2024, USDC-denominated spot markets on Binance have increased from 140 to 329, and monthly trading volumes have doubled from the $20 billion-$40 billion range to over $80 billion. Currently, USDC's market capitalization is approximately $74 billion, making it the second-largest USD stablecoin after Tether (approximately $140 billion).