Company Updates USDC

USDC Market Cap Tops $10 Billion

USDC Market Cap Tops $10 Billion

Alex Behrens Alex Behrens March 19, 2021

The global market cap for USDC has officially passed $10 billion! More than two years after launching the world’s leading compliant and regulated digital dollar stablecoin, growth continues to accelerate as shifting macroeconomic trends and exploding innovation in digital assets drive demand across diverse industries around the world.

USDC-10B

In March 2020, the total supply of USDC stood at less than $1 billion. With $10 billion now on the books, we’re celebrating growth of more than 1,000% in that short time, and a CAGR of more than 9,500% in the past 90 days. To put things in perspective, that incredible ramp saw the supply of USDC jump from less than $4.5 billion on the first day of 2021 to the $10 milestone we’re announcing today—more than doubling circulating USDC in less than a single quarter. So far, more than $534 billion has changed hands using USDC. And progress isn’t confined to just the Ethereum ecosystem. USDC supply on the Stellar, Algorand, and Solana blockchains has increased more than 100% in the last 30 days alone.

 

The World Runs on USDC

Global demand for dollar stablecoins is robust and growing, as businesses and customers in international markets grapple with volatile fiat currency exchange rates and runaway inflation as struggling national economies try to print their way out of economic stagnation. Circle Accounts represent the easiest, most streamlined gateway to dealing in digital dollars, across multiple blockchains and with enterprise level security. Circle Payments make it simple for treasury managers and other business leaders to make sure invoices and employees are paid on time and avoid the clunky pain points of the legacy financial system.

DeFi lit the fuse of the ongoing crypto expansion cycle, with USDC serving alongside Ethereum as the beating heart of the decentralized financial revolution. From straightforward savings programs that trounce returns offered by legacy banks to complex yield-generating vaults from Yearn or Curve Finance, USDC has become an integral part of emerging capital markets designed for the digital age. And soon, Circle high yield accounts will bridge the gap between DeFi innovation and corporate-level capital management.

Don’t forget NFTs! NBA Top Shots from Circle partner Dapper Labs transacted more than $320 million in volume in just the last 30 days, powered by Circle APIs to make snagging the best plays as familiar as checking out on Amazon. Circle is the perfect partner for the next generation of NFT brokers, connecting the world of mainstream payments to crypto assets with the speed and ease of cutting-edge blockchain infrastructure.

There’s so much to celebrate as USDC rockets past $10 billion—and we want you to join the party! Get started with your free Circle Account, or learn more about Circle Payments and Circle Payouts.

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