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USDC circulation grew 78% in 2024: report

USDC’s circulation surged by 78% in 2024, peaking at 43.9 billion USD by the beginning of 2025. This increase marks a remarkable rebound from its low of 24.4 billion USD earlier in 2024.

Circle’s Chief Strategy Officer attributed the growth to effective regulatory engagement, highlighted by obtaining a license under the EU’s MiCA framework. USDC now operates on 16 blockchains and has facilitated over 850 billion USD in fiat transfers.

Despite its growth, USDC’s market cap remains behind USDT, which reached 137.5 billion USD and comprises 66% of the stablecoin market. Since 2021, USDT has seen a 74% increase, whereas USDC increased only by 8.8%.

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