USDC Hits $56B All-Time High, Driven by Circle and Tether on Solana

Stablecoins, particularly those pegged to the U.S. dollar, are increasingly influencing global payments, with over $170 billion in circulation and driving more than $20 trillion in yearly transactions.

This growth is highlighted by the recent surge in the supply of USDC, which has reached an all-time high of $56 billion, more than doubling in the past year with a year-over-year growth rate of over 100%.

Circle and Tether have been key players in this expansion, issuing $8.5 billion in stablecoins since early 2025, with Circle minting an additional $250 million USDC on the Solana blockchain, contributing to the onchain future of money. The rise of stablecoins is seen as a means to preserve U.S. dollar dominance in international transactions, a view supported by comments from the White House.

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