Understanding USDC Total Supply

Stablecoin supply is one of the market’s favorite adoption meter. Stablecoins are undergoing a Cambrian explosion: the combined market value of dollar-pegged tokens has risen from roughly $200 bn to about $250 bn, a 25 % increase YTD. Within that surge, USDC has outpaced its peers, with supply climbing from ≈ 43.7 bn to ≈ 61.6 bn YTD, representing a 41 % jump.

Previously, the only way to bet on this growth was by trading Circle stock, where stock-specific factors obscure the underlying dynamics. Alkimiya’s total supply market strips those out and delivers clean exposure to the monetary base of USDC.

When risk-on sentiment rises, supply expands; when markets tighten, supply contracts. USDC supply thus serves as a real-time signal of crypto macro cycles.