$USDC USDC is a dollar stablecoin, with total supply divided into three parts: USDC from Coinbase, Circle, and other platforms. Coinbase's share rapidly increased to about 23% by Q1 2025, while Circle's share remained stable, indicating Coinbase's growing influence. In terms of revenue distribution, both retain 100% reserve income within the platform, while sharing 50/50 outside the platform, with Circle benefiting more from external sources. Circle is promoting the growth of USDC circulation, aiming to make it the preferred dollar stablecoin. Additionally, Circle is expanding its coverage, enhancing security and liquidity.