Circle Sees Record-Breaking USDC Onchain Volume Amid Slowing Crypto Market

Circle reported significant growth in USDC usage during the second quarter of 2026, with onchain transaction volume surging 151% year over year to $14.8 trillion.

USDC in circulation reached $73.3 billion at quarter-end, increasing 19% from the prior-year period.

The company's financial growth remained slower than network activity, with total revenue and reserve income increasing 7% to $701 million, and adjusted EBITDA rising 8% to $143 million.