Analysis: Ethereum is still the dominant network for USDC, followed closely by Solana, which has issued over 10 billion coins on the chain
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reported that the market capitalization of USDC, a dollar stablecoin issued by Circle, has exceeded $60 billion, reaching a historical high and growing 100% compared to $30 billion in March 2024. According to on-chain distribution, although Circle has issued a large amount of USDC on Solana this year, Ethereum remains the dominant network for this stablecoin, with the following breakdown: approximately 36 billion issued on Ethereum, 10 billion on Solana, 3.7 billion on Base, 2.2 billion on Hyperliquid, 1.8 billion on Arbitrum, and 1 billion on Berachain. (Block)
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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