On March 26, the total market capitalisation of the stablecoin USDC exceeded $60 billion, reaching a new all-time high (ATH).
At the time of writing, the asset’s supply stands at $60.2 billion, marking a 100% increase compared to March of the previous year, when it was at $30 billion.
The overall market capitalisation of stablecoins also reached an ATH, surpassing $238 billion.
USDC remains the second most popular stablecoin. Its main competitor, Tether’s USDT, continues to lead the stablecoin segment with a market capitalisation of $144 billion.
The majority of USDC—approximately $39 billion—is deployed on the Ethereum network. Solana ranks second with $9.5 billion. The assets are also distributed across blockchains such as Base ($3.7 billion), Hyperliquid ($2.2 billion), Arbitrum ($1.8 billion), and Berachain ($1 billion).
As of March 24, USDC accounted for approximately 80% of the stablecoin supply on Solana.
Earlier, Circle, the issuer of USDC, accelerated cross-chain transfers of the stablecoin to a matter of seconds.