Recently, the dynamics of USDC have been constantly evolving. The issuer Circle has performed brilliantly since its listing, with the stock price soaring from $31 to $83.23 on its first day of trading, triggering multiple circuit breakers, and its market capitalization surpassing $18 billion. The IPO subscription exceeded 20 times, with the fundraising amount increasing dramatically from $600 million to $1.1 billion. Its circulation has grown significantly, increasing by 78% over the past year, with over 500 million end users globally. The monthly trading volume is expected to exceed $1 trillion by November 2024, and the total trading volume has surpassed $20 trillion, with a current market capitalization close to $61.5 billion. Additionally, the Coinbase Derivatives plan aims to support USDC as collateral for futures trading before 2026 and has received regulatory approval from the CFTC.