The Circle report is proof that cryptocurrencies have ceased to be just speculation. The data shows a massive and regulated flow of institutional capital:
The explosive growth of $USDC (the institutional dollar)
USDC in circulation: $73.7 billion (↑ 108% year-on-year).
This growth is not only from traders. It is the fiat money (traditional dollars) that is converted into USDC to operate frictionlessly in the crypto ecosystem. This record volume demonstrates the confidence and legitimacy that Circle's regulated stablecoin has in the global market.
$9.6 trillion on-chain
On-chain transaction volume of Usdc: $9.6 trillion (↑ 6.8x year-on-year). It is a figure comparable to the transactions handled by traditional financial systems. It is the strongest evidence that blockchain (mainly Ethereum and fast networks) is becoming the real infrastructure to move value at an institutional level, not just to pay for pizzas.
💡 Why is Circle important for the crypto market?
Circle is the regulatory and liquidity bridge that growing sectors need:
Legitimacy to the sector: $USDC is an audited asset backed 1:1 by dollars and U.S. Treasury bonds. Its massive growth forces governments and regulators to take blockchain seriously as payment infrastructure, not just as an asset class.
Catalyst for RWA: projects like ONDO that tokenize real-world assets depend on reliable stablecoins for settlement. The growth of USDC is the engine that provides liquidity and confidence to the RWA sector.
Justifies the speed (tx/s): $9.6 trillion in volume can only be moved with ultra-high-speed platforms, such as ICP (1,072 tx/s) or SOL (949 tx/s). The Circle report validates the need for these networks to be fast and scalable to handle institutional volume.
The Circle report is a structural bullish signal. It confirms that smart money has not only entered but is moving trillion-dollar volumes on-chain, paving the way for the next phase of mass adoption.
