USDC Stablecoin Experienced 78% Growth in 2024, Surpassing Other Major Stablecoins

In 2024, USDC experienced significant growth, with its circulation increasing by 78% year-over-year, surpassing other major stablecoins.

As 2024 unfolds, the cryptocurrency market continues to experience dynamic shifts and developments. Among these is the notable growth in the circulation of USDC, which surpasses that of other major stablecoins with an impressive 78% increase year-over-year. This expansion can be largely attributed to Circle's strategic initiatives.

In a move to enhance USDC's credibility and accessibility in global markets, Circle has ensured its compliance with the European Union's Markets in Crypto Assets regulation and adhered to Canada's new listing rules.

Moreover, Circle anticipates that U.S. executive orders facilitating bank involvement in cryptocurrencies will further bolster USDC's adoption.

This development is particularly relevant as U.S. crypto investors have recently exhibited caution. However, these anticipated executive orders, which aim to promote bank engagement with cryptos, may serve to alleviate concerns and encourage greater participation.

The surging circulation of USDC also reflects growing trust in regulated stablecoins among U.S. buyers, which could indicate a shift toward more stable investment vehicles.

Meanwhile, speculation regarding a potential price bubble in U.S. AI tech stocks, spurred by China's DeepSeek AI model, continues to escalate. This development has raised concerns about corrections in risk asset markets, which may lead cryptocurrency investors to adopt a more cautious approach.