USDC Surpasses Tether Growth Rate with $8 Billion Market Cap Gain

Circle's USDC stablecoin has made significant strides in the past year, adding $8 billion to its market cap and surpassing Tether's USDT growth rate. As of early August 2026, USDC's total circulating supply reached approximately $72 billion.

The milestone marks a notable turnaround for USDC, which had struggled with market cap issues following the 2023 Silicon Valley Bank collapse. Over the past twelve months, USDC's market cap grew by 73%, outpacing Tether's USDT growth rate of 36% over the same period.

Circle has set its sights higher, targeting a USDC supply of $150 billion in the second half of 2026, up from $112 billion earlier this year. The stablecoin is natively supported on more than 35 blockchain networks thanks to Circle's Cross-Chain Transfer Protocol (CCTP), which enables seamless token transfer between chains without liquidity fragmentation.

The recent acquisition of a limited-purpose trust charter by the New York Department of Financial Services for Circle's New York Trust entity has further solidified USDC's position in the market. This designation grants Circle formal authority to offer fiduciary and custody services, opening doors for institutional clients seeking regulated access to on-chain markets.