USDC set a record by breaking the $60bn mark for the first time

On March 26, the USDC steiblcoin capitalisation reached an all-time high, surpassing $60bn. According to CoinGecko, the current supply of the asset is $60.2bn, which is double the $30bn in the same period last year.

The overall stablecoin market has also renewed its record, reaching a capitalisation of over $238 billion. Despite the significant growth, USDC remains in second place among the steiblcoins, behind USDT, whose market value is estimated at $144bn.

The largest portion of USDC is concentrated in the Ethereum network - about $39bn. The second most important blockchain for the asset is Solana, where $9.5bn is placed. There are also significant amounts of USDC in the Base ($3.7bn), Hyperliquid ($2.2bn), Arbitrum ($1.8bn) and Berachain ($1bn) networks. Notably, by 24 March, Solana was concentrating about 80% of the total USDC supply among the steiblcoins in this ecosystem.

Circle, the USDC issuing company, continues to improve its technology solutions by accelerating cross-chain transfers of steiblcoin. The latest enhancements allow transactions to take place in seconds, making the asset even more attractive to users and institutional investors.