USDC Market Cap Jumps 23.4% to $56.3 Billion Amid Regulatory Push

On February 10, the market capitalization of USDC reached $56.3 billion, marking a 23.4% increase from $45.6 billion on January 8. This surge comes as Circle expands its reach to blockchains like Sui and Aptos, and after minting $6 billion of USDC on Solana in January 2025. While USDT still dominates with 63% of the stablecoin market share, USDC has risen to 25% from 19.4% a year ago. The total stablecoin market cap has grown from $121 billion in August 2023 to $224 billion as of February 10. This growth coincides with increased regulatory interest from US politicians, aiming to foster innovation and potentially bolster the US dollar's global dominance.