USDC Market Cap Hits $28B as Non-US Growth Surges Global Expansion Boosts USDC Circle's USDC stablecoin is making waves in non-U.S markets, with its market capitalization soaring past
$28 billion. This growth has been fueled by a steady rise since Q4 2023, attracting the attention of institutional investors.
Coinbase Report Signals Resurgence A recent report from Coinbase highlights the renewed strength of the USDC market, riding the wave of a broader market upturn and increased activity outside the United States.
Impressive Growth: $3.5B in a Month Since December 1, 2023, USDC has experienced an impressive surge, adding over
$3.5 billion to its value—a remarkable
14% increase. This surge has propelled its market cap to new heights.
Reversal of Fortunes for USDC After a rocky start in the first three quarters of 2023, marked by a loss of its dollar peg due to exposure to Silicon Valley Bank (SVB), USDC has made a strong comeback. It weathered the storm and regained stability, attracting fresh investments.
Expanding Horizons Beyond Borders The narrative surrounding USDC is evolving as it gains traction in non-U.S markets. Its share of spot and derivatives activity has grown nearly fivefold since the beginning of 2023, albeit still representing only 4% of total CEX volumes globally.
