Circle's USDC hits record market cap as demand for stablecoins surges

Decentralized finance (DeFi) trading volume in the Solana (SOL) ecosystem has increased, while the market capitalization of stablecoin USDC has also surged.
Artemis, an on-chain data analytics platform,
"USDC's market capitalization has increased by $10.2 billion (approximately 15.5 billion yen) in the last month," he said, adding, "This is the largest increase ever."
Artemis said, "This is the result of an increase in trading volume in Solana-based DeFi," and "the total market capitalization of stable coins
The increase in the amount is a positive signal for the cryptocurrency market." The market capitalization of Circle's USDC, the second largest stablecoin in the market, reached 10,000,000 on the 10th (
local time), surpassing $56.2 billion (approximately 8.57 trillion yen), setting a new all-time high.