🚨 USDC moved $36T in H1 transactions, yet Circle kept only 7¢ of every revenue dollar.
High volume ≠ high profit—$1.4B revenue saw 93% spent on distribution, ops, and investment.
This reveals stablecoin issuers face thin margins despite massive throughput.
Market implication: Growth in USDC usage may not translate to proportional value accrual for token holders.
Is volume alone enough to drive long-term demand for USDC?
#StablecoinEconomics

$USDC #TradingSignal #CryptoAnalysis