USDC Hits Market Cap Peak Of Over $60 Billion, Reshaping Stablecoin Market Landscape

USDC Hits Market Cap Peak Of Over $60 Billion, Reshaping Stablecoin Market Landscape

On March 28, 2025, the cryptocurrency market witnessed an important milestone when USD Coin (USDC), the world's second largest stablecoin, officially surpassed the capitalization mark of 60 billion USD. This event not only affirmed USDC's position in the stablecoin segment but also marked a turning point in the fierce competition with rivals, especially Tether (USDT), contributing to reshaping the market landscape.

According to Coin68, USDC's capitalization has grown strongly in recent times, reflecting the growing confidence of the cryptocurrency investor and user community. With a capitalization exceeding 60 billion USD, USDC continues to consolidate its position as one of the top stable assets, second only to USDT - currently leading with a capitalization of over 130 billion USD. This growth is attributed to the cross-chain expansion strategy of Circle, the company issuing USDC, along with technical improvements to enhance liquidity and interoperability between blockchains.

Circle has deployed USDC on more than 14 blockchain platforms, including Ethereum, Solana, Polygon, and most recently, networks such as Arbitrum, NEAR, Optimism, Polkadot, and Flow. In particular, Circle’s Cross-Chain Transfer Protocol solution allows USDC to move flexibly between blockchains, helping to reduce the liquidity dispersion problem – a major challenge in the cryptocurrency industry. The “mint-burn” mechanism of this protocol ensures transparency and does not cause inflation of supply, thereby increasing trust in this stablecoin.

USDC's breakthrough comes amid a heated stablecoin market with fierce competition. While USDT still dominates the market share, USDC is highly regarded for its transparency and clear backing from fiat assets, including USD cash and short-term US Treasury bonds. This sets it apart from Tether, which has faced many controversies related to its collateral reserves. In addition, the emergence of new stablecoins from projects such as Aave, Curve or Coin98 is also increasing competitive pressure, forcing "giants" like USDC to constantly innovate.

Experts say the $60 billion milestone is not just a statistical achievement, but also a signal that stablecoins are playing an increasingly important role in the decentralized finance (DeFi) ecosystem and the global digital economy. “USDC reaching this capitalization level shows that the demand for stable, reliable assets is increasing, especially in the context of the highly volatile cryptocurrency market,” an analyst from Coin68 shared.

Looking ahead, Circle appears to have no plans to slow down. The company is pushing ahead with plans to expand USDC to new blockchains and improve transaction performance, while also preparing for a long-rumored IPO. With these strategic moves, USDC promises to continue to be an important factor in reshaping the stablecoin market, which is expected to grow strongly in the coming years.

The USDC event surpassing the $60 billion mark is not only good news for Circle but also a testament to the potential of stablecoins in connecting cryptocurrencies with traditional finance, opening a new era for this industry.