This achievement highlights the growing adoption of USDC in the global digital asset ecosystem.
USDC Supply Hits $60.2 Billion, a 100% Year-Over-Year Increase
On Wednesday, USDC’s supply hit an all-time high of $60.21 billion, representing a 100% year-over-year increase from $30 billion in March 2024. This surge has contributed to the overall stablecoin market cap exceeding $230 billion, marking a new peak.
Ethereum Dominates USDC Distribution Across Blockchains
Ethereum continues to dominate USDC distribution, holding the largest share with $36 billion. Solana follows with $10 billion, while other blockchains such as Base ($3.8 billion), Hyperliquid ($2.2 billion), Arbitrum ($1.8 billion), and Berachain ($1 billion) also contribute significantly to USDC’s spread.
Circle Expands USDC’s Reach with New Partnerships and Infrastructure Upgrades
Circle has been actively expanding USDC’s presence, including a recent partnership with SBI VC Trade for the stablecoin’s official launch in Japan. Additionally, Circle has announced plans to upgrade bridged USDC on Ethereum’s Layer 2 blockchain, Linea, to natively issued USDC, marking a first in the industry.
To further streamline operations, Circle rolled out an enhanced cross-chain transfer protocol, significantly reducing USDC transfer times between blockchains from minutes to seconds. This upgrade currently supports Avalanche, Base, and Ethereum, with plans to extend to Linea, Arbitrum, and Solana soon.
Editorial Team
Reporter at Coindoo
Source: https://coindoo.com/usd-coin-usdc-reaches-60-billion-market-cap/