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Stablecoin USDC de Circle has just reached a record level with a market capitalization exceeding $ 60 billion. This symbolic step is part of the wider trend of Stablecoins market expansion, whose global capitalization now exceeds $ 230 billion.
Furguration Growth for USDC
The USD coin officially exceeded the market value of $ 60 billion on Wednesday and reached exactly $ 60.2 billion.
This remarkable performance is to double its value in just a year, as its capitalization was approximately $ 30 billion in March 2024.
This Stablecoin indexed the US dollar, issued by Circle and supported by the consortium, including Coinbase, retains its position as the second largest stablecoin on the market. Tether USDT remains headed by capitalization exceeding $ 144 billion.
The USDC offer is spread over several blockchains, with a dominant presence on Ethereum, which is located more than $ 36 billion. Solana follows a large amount of $ 10 billion.
Other important networks also host USDC, including base (3.8 billion), Hyperlikvid (2.2 billion), Arbiter (1.8 billion) and Berachain (1 billion).
Strategic extension and technological progress Circle
During the first quarter of this year, Circle issued considerable USDC sums on the blockchain Solana, often from $ 250 million. Since March 20, emissions have already exceeded $ 10 billion on this blockchain, testifying to the growing share of this platform.
At the same time, Circle continues its geographical expansion and improves its infrastructure. The company recently announced the official launch of USDC in Japan thanks to a partnership with SBI VC Trade, opening up new prospects on the Asian market.
At the technical level of Circle, he also introduced his intention to develop the USDC bridge on the Blockchain Ethereum 2, Linea, on the issued USDC. This transition is the first in the sector and should improve transactions efficiency.
In addition, an improved version of its inter-chaînes transmission protocol (CCTP V2) was deployed on the avalanche, base and Ethereum, while the extension was provided by Linea, Arbiter and Solan. This upgrade significantly shortens the USDC transmission time between the blockchains, from a few minutes to a few seconds.
This growth occurs a few months after the circle received the approval of the mica (markets in the regulation of crypto-lashes) for the question of Stablecoins in Europe in July 2024. This green light strengthens USDC legitimacy and opens the way to the wider acceptance of Stablecoins in the European Union.
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Passionate Bitcoin, I like to explore meanders blockchain and cryptos and share my discoveries with the community. My dream is to live in a world where privacy and financial freedom is guaranteed for everyone, and I firmly believe that Bitcoin is a tool that can make it possible.
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The words and opinions expressed in this article are involved only by their author and should not be considered investment counseling. Do your own research before any investment decision.