PANews reported on June 5th that Bitwise senior investment strategist Juan Leon posted on X platform, stating that the Circle IPO has attracted market attention. Circle's annual revenue grew by 118% between 2022 and 2024. Currently, USDC occupies about 30% of the stablecoin market share, with its supply growing from less than $3 billion in 2020 to over $60 billion in 2025 (over 70% in Ethereum and its L2 ecosystem).
In terms of trading volume, USDC monthly trading volume has grown from less than $50 billion in 2020 to over $2.3 trillion in May 2025. From the trading distribution perspective, USDC was mainly concentrated on the Solana blockchain in 2024 but has since shifted to Ethereum and Base in 2025.
