USDC crosses $16 trillion in volume, driven by Solana’s market share
Ad Circle’s USD Coin (USDC) stablecoin has surpassed $16 trillion in total cumulative volume, marking significant growth in the stablecoin sector. USDC, launched in 2018, is the second-largest stablecoin by market capitalization, with $34.6 billion in circulation. It has gained traction due to its regulatory compliance, outperforming Tether’s USDT in transaction volume despite a smaller supply. USDC accounts for approximately 50% of total stablecoin transaction volume. The Solana blockchain drives USDC’s growth, holding over 75% of its market share and comprising about 65% of Solana’s $3.98 billion stablecoin supply. USDC's transaction volume on Solana reached around $8.29 trillion since last year, outpacing USDT on TRON, which recorded $7 trillion. Solana's speed and lower transaction costs have attracted traditional financial players, further boosting USDC's prominence amid rising memecoin trading and DeFi activities.
