🔔 USDC Weekly Highlights (June 1–7, 2025)
1. Circle’s IPO Surges 🚀
Circle, the issuer of USDC, went public on June 4 with an IPO price of $31. Investor enthusiasm drove the stock to open at $69 and soar to $103.75 before closing at $83.23, marking a 168% surge on its first day. The rally continued in premarket trading the following day, with shares up another 14%. This explosive debut resulted in a market capitalization of approximately $18.4 billion.
2. ARK Invest’s Major Stake 📈
Cathie Wood’s ARK Invest purchased 4.48 million shares of Circle, valued at approximately $373.4 million, during the IPO. This significant investment underscores strong institutional confidence in USDC's future.
3. OKX Ends USDC Support ❌
Crypto exchange OKX announced it will cease support for USDC-related Earn products starting June 13. Users' USDC balances will be automatically converted to USDT on a 1:1 basis, affecting trading and deposits.
4. Crypto.com’s Sonic Deposit Campaign 🎯
Crypto.com launched the USDC Sonic Net Deposit Competition, running from June 3 to June 17. Participants depositing at least 500 USDC via the Sonic network can win up to $1,000 in S tokens, promoting USDC adoption.
5. USDC Circulation Doubles 💵
USDC in circulation has grown significantly, from $32 billion to $60 billion in early 2025. Despite earning revenue primarily from interest on fiat reserves, a lower interest rate environment could be more beneficial for Circle in the long term, as it encourages increased stablecoin usage.
