The Stablecoin USDC de Circle has just reached a record level with a market capitalization exceeding $ 60 billion. This symbolic step is part of a broader trend of expansion of the Stablecoins market, whose global capitalization now exceeds $ 230 billion.
Fulgurating growth for the USDC
The USD Coin officially crossed the threshold of $ 60 billion in market capitalization on Wednesday, reaching precisely 60.2 billion USD.
This remarkable performance represents a doubling of its value in just one year, since its capitalization amounted to around $ 30 billion in March 2024.
This stablecoin indexed to the US dollar, issued by Circle and supported by a consortium including Coinbase, retains its position as a second largest stablecoin on the market. The Tether USDT remains in the lead with capitalization exceeding $ 144 billion.
USDC's offer is spread over several blockchains, with a dominant presence on Ethereum which houses more than $ 36 billion. Solana follows with a considerable amount of $ 10 billion.
Other important networks also host the USDC, including Base (3.8 billion), Hyperliquid (2.2 billion), Arbitrum (1.8 billion) and Berachain (1 billion).
Circle's strategic expansion and technological advances
During the first quarter of this year, Circle issued significant amounts of USDC on the Solana blockchain, often out of $ 250 million slices. As of March 20, emissions on this blockchain had already exceeded $ 10 billion, thus testifying to the growing interest in this platform.
At the same time, Circle continues its geographic expansion and improves its infrastructure. The company has recently announcement The official launch of the USDC in Japan thanks to a partnership with SBI VC Trade, thus opening up new perspectives on the Asian market.
On the technical level, Circle also unveiled its intention to develop the USDC Bridge on the Ethereum Layer 2 blockchain, Linea, to a USDC issued. This transition is a first in the sector and should improve the efficiency of transactions.
In addition, an improved version of its Inter-Chaînes transfer protocol (CCTP V2) has been deployed on Avalanche, Base and Ethereum, with extensions provided to Linea, Arbitrum and Solana. This upgrade considerably reduces USDC transfer time between blockchains, from a few minutes to a few seconds.
This growth occurs a few months after Circle has received the approval of Mica (Markets in Crypto-Astets Regulation) for the issue of Stablecoins in Europe, in July 2024. This green light strengthens the legitimacy of the USDC and opens the way to a broader adoption of stablecoins in the European Union.
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