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USDC Market Cap

Last 5 years (in billions)

Market cap (USD)
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Total USDC in use

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Countries reached

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Unique wallets

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Daily trading volume

Data from public blockchain sources · Updated daily

What these numbers mean

Total USDC in circulation

This is how many dollars people have converted into USDC. Each token is backed 1:1 by cash and short-term U.S. Treasuries held in reserve.

Countries reached

USDC works in 185+ countries without bank intermediaries. Anyone with an internet connection can send or receive dollar-value payments.

24-hour trading volume

How much USDC changes hands each day. Higher volume means better liquidity and easier buying, selling, and transferring.

Supply trend

Growing supply signals more people and businesses choosing USDC. The market cap chart above shows how adoption has changed over time.

Where USDC lives

USDC supply by blockchain. Each network offers different trade-offs between cost, speed, and ecosystem.

USDC in the stablecoin market

USDC is the second-largest stablecoin by market cap, behind USDT.

USDT62%
USDC26%
DAI3%
Others9%

See how USDC stacks up feature by feature. USDC vs USDT comparison

Key milestones

September 2018

USDC launches

Circle and Coinbase launch USDC through the Centre Consortium as a fully-backed, dollar-pegged stablecoin on Ethereum.

March 2021

USDC goes multi-chain

USDC expands beyond Ethereum to Solana, Algorand, and Stellar, making it accessible across multiple ecosystems.

January 2022

Supply crosses $50B for the first time

Rapid DeFi growth and institutional adoption push USDC supply past $50 billion.

March 2023

SVB weekend and rapid recovery

USDC briefly depegged after Silicon Valley Bank collapsed. Circle confirmed reserves were safe, and the peg fully recovered within days.

September 2023

Native USDC on Base

Circle launches native USDC on Coinbase's Base chain, bringing fast and cheap USDC transfers to a new L2.

June 2024

MiCA compliance in Europe

USDC becomes the first major stablecoin to comply with the EU's Markets in Crypto-Assets regulation.

April 2025

Circle files for IPO

Circle files to go public on the NYSE, a milestone for stablecoin legitimacy in traditional finance.

February 2026

Supply surpasses $60B

Growing institutional demand and on-chain commerce push USDC supply past $60 billion, approaching its previous all-time high.

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