USDC’s share of total stablecoin transaction volume rose from 66% in the same period last year to 79%.
These figures were disclosed in Circle’s third-quarter earnings call and financial report. During the same period, USDC’s on-chain transaction volume reached $13.9 trillion, up 49% year over year; minting and redemptions totaled approximately $208 billion for the quarter, a record high; and the reserve return rate was 3.54%, down 61 basis points year over year. The payment network CPN had an annualized payment volume of $41 billion at quarter-end, about 15 times higher year over year. It has now surpassed $58 billion, with 205 financial institutions connected. Arc’s mainnet launched on September 16, with 11 founding validators and more than 100 applications.
· The increase in share and growth in on-chain transaction volume come from the same disclosure, but measure different things: the former is a share, while the latter is scale.
· The reserve return rate fell 61 basis points year over year, moving in the opposite direction from transaction volume and minting and redemptions.
Would you look first at the change in USDC’s share, or the decline in the reserve return rate?
$USDC #Stablecoins
These figures were disclosed in Circle’s third-quarter earnings call and financial report. During the same period, USDC’s on-chain transaction volume reached $13.9 trillion, up 49% year over year; minting and redemptions totaled approximately $208 billion for the quarter, a record high; and the reserve return rate was 3.54%, down 61 basis points year over year. The payment network CPN had an annualized payment volume of $41 billion at quarter-end, about 15 times higher year over year. It has now surpassed $58 billion, with 205 financial institutions connected. Arc’s mainnet launched on September 16, with 11 founding validators and more than 100 applications.
· The increase in share and growth in on-chain transaction volume come from the same disclosure, but measure different things: the former is a share, while the latter is scale.
· The reserve return rate fell 61 basis points year over year, moving in the opposite direction from transaction volume and minting and redemptions.
Would you look first at the change in USDC’s share, or the decline in the reserve return rate?
$USDC #Stablecoins
