Summary
Circle, a company that bridges traditional banking and blockchain systems, has released a report on the growth and changes of its stablecoin, USDC. The report highlights that the number of wallets holding USDC has grown by 59% in the past year to 2.7 million. The company also claims that stablecoin usage for speculation has decreased by more than 90% since 2019. Despite this, USDC’s market capitalization has seen a significant drop since early 2023, but has recently bounced back slightly. USDC currently ranks seventh among all digital assets, trailing behind USDT.
Key Points
1. Last year, the company bridged more than $197B between traditional banking and blockchain systems.
2. The number of wallets holding more than $10 of USDC has grown by 59% in the past year to 2.7M, with 595M transactions through the end of November 2023.
3. Stablecoin usage for speculation is dwindling, with USDC dropping more than 90% in terms of leverage since 2019. Its flagship token has also been used to send value worth $12 trillion since its inception.
(Note: Each key point is separated by a line break.)