Bitget Lists SHIB, XLM, INJ, PHA, and RNDR Against USDC, Challenging USDT's Dominance

The adoption of Stellar (XLM) and Shiba Inu (SHIB) has taken a step forward with their recent pairing against the stablecoin USD Coin (USDC) on the Bitget exchange.

Cryptocurrency exchange Bitget has recently announced the addition of Stellar (XLM) and Shiba Inu (SHIB) trading pairs against the stablecoin USD Coin (USDC) on its platform. This development comes as both XLM and SHIB have gained significant traction in the crypto market.

According to CoinMarketCap, Bitget is a leading platform in the cryptocurrency market, boasting a daily trading volume of $3.17 billion and total assets valued at $5.9 billion. This latest move by the exchange highlights the growing role of USDC in diversifying stablecoin trading options on major exchanges.

In addition to both tokens, Bitget has also listed several other tokens against USDC, including Injective (INJ), Phala Network (PHA), and Render (RNDR). While the addition of these trading pairs reflects the rising appeal of these cryptocurrencies, it also underscores Bitget’s efforts to position USDC as a competitor to Tether (USDT) concerning trading dominance on its platform.

According to data from the exchange, the USDC/USDT trading pair currently ranks 11th among all trading pairs on Bitget, with a trading volume of $32.43 million on Friday. This strategic move to introduce more USDC-based pairs suggests an effort to challenge USDT’s market dominance within the exchange.

By aligning USDC with popular cryptocurrencies such as SHIB and XLM, Bitget appears to be targeting retail investors and institutional participants who favor more established tokens with high trading demand.

Shiba Inu continues to attract significant attention due to its dedicated community of supporters. Stellar (XLM), on the other hand, has gained momentum in recent months, especially with its association with XRP in the cross-border payments ecosystem. These two cryptocurrencies bring unique strengths, with SHIB appealing to meme-coin enthusiasts and XLM offering solutions in financial technology and blockchain innovation.

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