PANews reported on March 14 that according to Cointelegraph, the market value of USDC stablecoins is approaching an all-time high of $80 billion due to surging demand in the Middle East. The increase comes after billions of dollars in supply have increased in recent weeks. The stablecoin's market capitalization was just over $70 billion at the beginning of February and $75 billion at the beginning of the month. Rami Al-Hashimi, an analyst who claims to be based in Dubai, said the surge was linked to capital outflows from the UAE.