Circle's USDC Dominates Stablecoin Transaction Volume, Hits Record $1.79T in June
CRCL sits 39% above its 52-week low of $49.9.
Summary
Circle's USDC has dramatically overtaken Tether's USDT in adjusted stablecoin transaction volume, now capturing approximately 70% of the market compared to USDT's 25%. This significant shift comes as overall stablecoin transaction volume hit a record $1.79 trillion in June, up 63% from May. The data, provided by Visa's on-chain analytics, underscores Visa's deepening engagement in the crypto sector, following its recent launch of Open USD. This dominance in transaction flow, coupled with increasing institutional adoption by firms like Standard Chartered and BNY, is a major positive for Circle, positioning USDC as the preferred stablecoin for economic activity and institutional integration.
At the time of this announcement, CRCL was trading at $69.47 on NYSE in the Crypto Assets sector, with a market capitalization of approximately $17.3B. The 52-week trading range was $49.90 to $262.97. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: CryptoProwl.