The circulation of the stablecoin USDC has surpassed $65 billion, driven by increased usage from both consumers and institutional investors.
Growth of USDC Circulation
The circulation of USDC has reached a new record of over $65 billion. This increase is linked to the rising demand for stablecoins, as reported by Circle's official channels and transparency data as of October 2023.
Impact on Cryptocurrencies and Networks
The rising supply of USDC affects key cryptocurrencies and networks like Ethereum and Solana, with increased liquidity observed across major DeFi platforms. Circle provides real-time updates on circulation and reserve composition.
Support for Global Financial Operations
The growth of USDC fuels on-chain liquidity and supports financial operations in payment, remittance, and capital markets. Circle continues to engage with regulatory bodies to advance stablecoin frameworks in global markets.
The increase in USDC circulation underscores its growing role in financial transactions and significantly impacts liquidity trends across both decentralized finance and traditional markets.
