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USD Coin ($USDC) continues to solidify its position as the second-largest stablecoin, with a market cap of $60.10 billion, per recent web data. Circle, the issuer behind $USDC, announced on May 14 the launch of native $USDC on the Sonic blockchain, transitioning from bridged USDC.e to a fully native experience. This upgrade, paired with Circle’s Cross-Chain Transfer Protocol Version 2 (CCTP V2), enables seamless $$USDC transfers across blockchains like Ethereum, Avalanche, and Solana, eliminating the need for wrapped tokens. The move aims to boost DeFi adoption, with Sonic now supporting high-liquidity transactions.

Circle also minted $250 million in USDC Solana on May 13, reinforcing stablecoin expansion, while partnerships like Opera’s stablecoin app—serving 7 million users in Africa—highlight $USDC’s growing utility. However, the broader market remains bearish, with the global market cap down 1.14% to $3.27 trillion. $BTC trades at $102,840, down 0.64%, and $ETH at $2,590, down 3.1%. Sentiment on X is mixed—some see $USDC’s transparency as a strength over Tether’s $143.99 billion USDT, while others worry about centralization risks tied to Circle’s ties with BlackRock. As $USDC gains regulatory clarity and market volatility, its role in global payments continues to evolve.