Circle’s USD Coin (USDC) grew significantly in 2024, recovering from a 45% drop in market cap after the Silicon Valley Bank collapse in 2023. The stablecoin’s circulation ROSE by 78%, increasing its market cap from 24.4 billion USD to 43.9 billion USD, still below its all-time HIGH.

In contrast, Tether’s USDT saw a 50% growth in market capitalization during the same period, reaching 137.5 billion USD by year-end. Circle highlights the importance of regulatory clarity in fostering USDC’s growth, especially in emerging markets where traditional finance needs improvement.