Why did UTF-8 replace the ASCII character-encoding standard?

Unicode characters are encoded into 8 bit byte sequence by UTF-8

The reason why UTF-8 replaces ASCII character-encoding standard is due to the advantages, broader scope, and utility of UTF-8 compared to ASCII, which includes;

Due to the above mentioned advantages, the UTF-8 is the preferred character encoding for a wider variety of user, making it to replace the ASCII

Learn more about the UTF and ASCII here:

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The UTF-8 replaced ASCII because it contained more characters than ASCII that is limited to 128 characters.

Explanation:

Both ASCII UTF-8 are used for encoding characters in computer communication. UTF-8 was favored over ASCII because it provided more characters than is available in ASCII making it more acceptable world over. Also, UTF-8 can be used for many different alphabets from around the world unlike ASCII which is limited to only languages that use the Latin Alphabet.