USDC’s market cap has risen to $56.3 billion as of February 10, 2025, up from a low of $24.1 billion in November 2023.
Circle has expanded USDC’s reach by integrating it into blockchains such as Aptos and Solana, increasing its use in decentralized finance.
The overall stablecoin market reached a capitalization of $200 billion in January 2025, with USDC gaining a larger market share.
USDC’s circulation grew by 78% year-over-year, with total transaction volume surpassing $20 trillion as of last year.
As of Monday February 10, Circle’s flagship stablecoin has achieved a market capitalization of $56.3 billion, following the recent market downturn that wiped out billions of dollars from the market in a single day.
Bitcoin (BTC) dropped from its historic high of $109,000 to its current price of $97,559, according to CoinMarketCap. This decline impacted major altcoins and led to decreased investor interest in stablecoins, despite their inherent stability and peg to fiat currencies like the US dollar and the euro.
USDC’s Growing Dominance
However, with the market gradually regaining its strength after struggling with the bears, USDC has rebounded, reaching $56.3 billion in market cap according to from CoinGecko while maintaining its position among the top ten leading cryptocurrencies in the world. This recovery follows a significant downturn in November 2023, when USDC’s market cap dipped to $24.1 billion amid a broader market decline.
The recent surge in USDC’s market cap has been largely attributed to Circle’s strategic expansion into additional blockchains. Notably, USDC has been integrated into the Aptos network, enhancing its accessibility and utility across diverse decentralized finance (DeFi) platforms.
In January, the entire stablecoin market had a market capitalization of $200 billion, according to data from Alphractal. The digital assets increased by 73% from the $121.18 billion recorded in August 2023 to reach an all-time high of $211 billion.
🚨 Stablecoin Market Cap Surpasses $211B – USDC Gains Momentum!
Since 2023, the stablecoin market has grown significantly, mainly driven by USDT (Tether). However, recently, USDC has been gaining an edge over other stablecoins.
This trend is occurring due to the recent drop in… pic.twitter.com/IRKrQErmCE
— Alphractal (@Alphractal) January 31, 2025
🚨 Stablecoin Market Cap Surpasses $211B – USDC Gains Momentum!
Since 2023, the stablecoin market has grown significantly, mainly driven by USDT (Tether). However, recently, USDC has been gaining an edge over other stablecoins.
This trend is occurring due to the recent drop in…
— Alphractal (@Alphractal)
During this period, USDC gained an edge over other stablecoins, thanks to the token’s integration into Solana, one of the fastest blockchains in the industry with a massive community. Since the token’s integration into the blockchain, the stablecoin’s dominance has from 20% to around 25.5%.
Although Tether’s USDT remained the king coin in the stablecoin market, USDC gained traction in the United States following the company’s relocation of its headquarter to El Salvador, paving the way for USDC to grow within the US.
To further increase its growth, Circle bolstered USDC’s presence by minting an additional $250 million on the Solana blockchain in January, bringing the total USDC minted on Solana to $5 billion since the beginning of this year.
Impressive Year-Over-Year Growth
In terms of yearly growth, Circle that USDC circulation grew by 78% year-over-year (YoY), outshining the growth rate of other stablecoins in the industry.
According to the company’s 2025 State of the USDC Economy Report released in January, the stablecoin’s total all-time transaction volume hit $20 trillion in 2024 with a monthly transaction volume of $1 trillion in November.
Since 2018, Circle has successfully bridged more than $850 billion between fiat and supported blockchains. The company has served as a vital conduit for globally systemic important banks, regional banks, payment providers, businesses, and end-users to leverage digital dollars for real-time global settlement, offering minimal transaction costs and global accessibility.