USDC on Ethereum hits historical records
The supply of USDC on Ethereum has reached new record levels, driven by several significant events. On June 5, Circle went public on the NYSE, strengthening institutional confidence. Just a month later, on July 18, the GENIUS Act was signed into law in the USA, introducing a regulatory framework for payment stablecoins and consolidating the role of USDC in both DeFi and real-world payments.
Ethereum continues to be the primary hub for stablecoins, hosting the majority of its supply. According to Standard Chartered, stablecoins account for about 40% of all blockchain transaction fees, with more than half of that activity occurring on Ethereum.
More recently, on September 16, USDC was listed for spot trading on Hyperliquid, expanding its utility and further reinforcing its dominance in the stablecoin market.
