Crypto
USDC Surges Past $584 Million in Weekly Growth, Drives Stablecoin Market Expansion
The stablecoin market continues to grow, led by USDC's significant additions of $584 million in just one week. This brings the total supply of stablecoins close to $310 billion, with USDC accounting for about 24% of that figure. Despite Tether's dominance with a 60% market share, USDC outperforms in on-chain transaction volume, capturing between 60-70% during certain periods in 2026.
The steady growth reflects consistent demand rather than one-time spikes, alongside contributions from Ethena's USDe and PayPal's PYUSD stablecoins. This trend suggests a sustained interest in stablecoins as an alternative to traditional fiat currencies or other cryptocurrencies.