22-4-2025 – USDC’s circulating supply has surged to $61 billion as of 19 April, marking a substantial $17 billion expansion since January. This impressive 38.6% growth underscores a significant shift in the stablecoin landscape, whilst the broader market reaches $226 billion in total supply.
The Ethereum network continues to reign supreme in the stablecoin realm, commanding $130 billion of the total supply. Whilst alternative networks such as TRON and Solana host significant volumes, they remain secondary players in this increasingly dynamic market.
Institutional preference shapes market evolution
Circle’s transparent approach to reserve management and regulatory compliance has positioned USDC as the preferred choice for institutional players, particularly within American and European markets. This strategic positioning comes as Circle advances its Initial Public Offering aspirations, potentially heralding a new era of integration between traditional finance and digital assets.
USDT growth presents contrasting picture
Market leader Tether (USDT) has demonstrated more modest growth, expanding from $138 billion to $145 billion in the same period. Despite maintaining its market dominance, USDT’s slower growth rate suggests evolving market preferences, particularly among regulated entities and decentralised finance protocols.
The near-perfect exchange ratio between USDT and USDC has facilitated seamless market movement, allowing participants to readily shift their holdings based on preference. This flexibility, combined with Circle’s regulatory clarity, suggests a continuing trend towards institutional adoption of USDC, potentially reshaping the stablecoin landscape in the months ahead.
