USDC market cap nears $80 billion as stablecoin sector adds 0.93% in one week

USDC's market capitalization approached its historical peak of nearly $80 billion on March 14, accounting for about 25% of the $315.9 billion total stablecoin market, DefiLlama data cited by ChainThink show. The overall stablecoin sector's value rose 0.93% over the past week, while Dubai-based analyst Rami AlHashimi linked stronger USDC demand to capital outflows from the UAE. In Dubai, property prices fell roughly 27% this month and the DFM Real Estate Index dropped from a recent high near 16,800 points to around 11,516 points, a decline of approximately 31%. ChainThink also reports that demand for USDC on Dubai over-the-counter platforms has become difficult to satisfy, and some property sellers are accepting cryptocurrency payments with 5% to 10% discounts for buyers who pay in BTC.