Robinhood Crypto Lists USDC in Select EU Jurisdictions
Robinhood Crypto EU announced on X platform that USDC has been launched in selected EU jurisdictions.
Over 53 million USDC were minted in the USDC Treasury
Whale Alert monitoring data shows that around 16:30 Beijing time, 53,362,974 USDC coins were minted in USDC Treasury, worth $53,349,634.
The market capitalization of USDC returned to above US$30 billion, setting a record since May 2023
According to Coingecko data, the market value of USDC has returned to above $30 billion, reaching a record high since May 15, 2023, with a value of $30,057,019,111 at the time of writing, as reported by Jinse Finance.
As of March 7, the total circulating supply of USDC was US$29.3 billion.
As of March 7th, Circle issued a total of 2.6 billion USDC and redeemed 2 billion USDC in the past 7 days, increasing its circulation by 600 million USDC. The total circulation of USDC is 29.3 billion US dollars, with a reserve of 29.3 billion US dollars, of which about 3.6 billion US dollars are in cash and Circle Reserve Fund holds about 25.8 billion US dollars.
After the adjustment in February, the transaction volume on the stablecoin chain dropped significantly, falling to US$632.4 billion, a decrease of nearly 15%.
According to data from The Block Pro, the stablecoin on-chain transaction volume decreased significantly by 14.8% to $632.4 billion in February after the adjustment. The market share of the US dollar stablecoin USDT was 76%, which decreased after four consecutive months of growth, while the market share of USDC slightly increased to 19.2%. In addition, the total on-chain transaction volume of Bitcoin and Ethereum increased by 3.2% to $369 billion after last month's adjustment, with Bitcoin's on-chain transaction volume slightly decreasing by 0.6% and Ethereum's on-chain transaction volume increasing by 9.2%.
USDC circulation increased by 700 million in the past 7 days
According to official data, within the 7 days ending on February 29th, Circle issued 2 billion USDC and redeemed 1.3 billion USDC, increasing the circulating supply by 700 million. The total circulating supply of USDC is 28.7 billion US dollars, with a reserve of 28.8 billion US dollars, including 3.3 billion US dollars in cash and 25.5 billion US dollars held by the Circle Reserve Fund.
USDC Treasury newly minted 50,146,019 USDC
Whale Alert monitored that USDC Treasury added 50,146,019 USDC coins worth about $50,068,042 early this morning.
Coinbase: USDC supply has increased by more than 14% since early December
Coinbase stated in a research report that USDC, the second largest stablecoin in terms of market value, is making a comeback with increased global liquidity and rapidly growing usage outside of the United States, leading to a sharp increase in supply in recent months. Analysts David Duong and Li Liu wrote: "Since December 1, 2023, the supply of USDC has increased by 14.3%, exceeding $3.5 billion, bringing its total market value to $28 billion, while the increase in USDT during the same period was smaller, at 8.7%." USDT is a competitor of Tether, a stablecoin based on the US dollar and the largest stablecoin to date, with a market value of $98 billion.
USDC circulation dropped by $100 million in the past week
According to official data, as of February 22, Circle issued approximately $1.1 billion USDC and redeemed over $1.2 billion USDC in the past 7 days, reducing the circulation by $100 million. The total circulation of USDC is $28 billion, with a reserve of $28.1 billion, of which $2.9 billion is in cash and Circle Reserve Fund holds $25.2 billion.
Yellow Card will introduce digital stablecoin USDC
The stablecoin entry and exit channel Yellow Card will introduce the digital stablecoin USDC and use USDC on Stellar to enhance financial trading capabilities. Through USDC on Stellar, Yellow Card users can enjoy expedited transactions, enhancing the convenience and practicality of digital currency transactions.
