USDC's onchain transaction volume grew much faster than its average circulating supply in the third quarter.
Circle's November 4 disclosure puts Q3 volume at $13.9 trillion, up 49% from a year earlier. Average USDC in circulation rose 8% to $73.3 billion over the same comparison.
The gap shows that growth in the dollar amount moving onchain outpaced growth in the amount of USDC outstanding. It doesn't tell us how many people used it or how much went toward buying goods: the same tokens can move repeatedly.
Source: Circle's Q3 2026 results. Chart compares reported year-over-year growth, not the dollar levels of supply and transactions.
https://www.circle.com/pressroom/circle-reports-third-quarter-2026-results
#USDC #Stablecoins
Circle's November 4 disclosure puts Q3 volume at $13.9 trillion, up 49% from a year earlier. Average USDC in circulation rose 8% to $73.3 billion over the same comparison.
The gap shows that growth in the dollar amount moving onchain outpaced growth in the amount of USDC outstanding. It doesn't tell us how many people used it or how much went toward buying goods: the same tokens can move repeatedly.
Source: Circle's Q3 2026 results. Chart compares reported year-over-year growth, not the dollar levels of supply and transactions.
https://www.circle.com/pressroom/circle-reports-third-quarter-2026-results
#USDC #Stablecoins
