Circle gives 70% of its revenue to channel partners
Circle brought in $1.4 billion in the first half of the year, with $819 million going directly to USDC distribution partners and transaction costs—59% of the total. USDC’s on-chain settlement volume reached $36 trillion, accounting for 77% of global stablecoin transaction volume. In September, Binance signed a five-year agreement and invested $100 million.
Channel partners take a big chunk of the profits, but in return, USDC balances on trading platforms are growing. More than 150 platforms and wallets have economic ties to USDC, directly driving demand for on-chain settlement. As long as the total stablecoin market cap doesn’t shrink, spot buying depth for BTC and ETH has a floor. In the short term, watch whether average daily USDC mints and redemptions can stay above $1.7 billion. If they do, a market pullback is accumulation; if not, stablecoin growth is slowing, increasing the odds that BTC will stall at elevated levels.
Would you keep holding as USDC continues to grow, or wait for BTC to retest key support before adding to your position?
$USDC $BTC $ETH
Circle brought in $1.4 billion in the first half of the year, with $819 million going directly to USDC distribution partners and transaction costs—59% of the total. USDC’s on-chain settlement volume reached $36 trillion, accounting for 77% of global stablecoin transaction volume. In September, Binance signed a five-year agreement and invested $100 million.
Channel partners take a big chunk of the profits, but in return, USDC balances on trading platforms are growing. More than 150 platforms and wallets have economic ties to USDC, directly driving demand for on-chain settlement. As long as the total stablecoin market cap doesn’t shrink, spot buying depth for BTC and ETH has a floor. In the short term, watch whether average daily USDC mints and redemptions can stay above $1.7 billion. If they do, a market pullback is accumulation; if not, stablecoin growth is slowing, increasing the odds that BTC will stall at elevated levels.
Would you keep holding as USDC continues to grow, or wait for BTC to retest key support before adding to your position?
$USDC $BTC $ETH