USDC’s market cap has climbed rapidly from just above $70 billion in early February toward a record $80 billion, with one analyst linking the increase to capital outflows from the UAE.
USDC’s market cap is approaching a record $80 billion after rising by several billion dollars in recent weeks. The stablecoin’s supply was just above $70 billion in early February and reached $75 billion earlier this month, extending the growth trend previously reflected in cross-chain supply data above $80 billion. An analyst attributed the latest increase in supply to capital outflows from the UAE.