r/CryptoCurrency • u/semanticweb 🟦 0 / 0 🦠 • 5d ago

METRICS 💰Top Three blockchains by USDC Circulating Supply💰

  1. Ethereum holds 66.5% of total USDC in circulation. Ethereum functions as the primary home for USDC, meaning centralized exchanges, institutional trading desks, and lending protocols depend heavily on ETH based ERC-20 USDC for deep order books and settlement.
  2. The Solana network holds 9.34% of total USDC in circulation. It is primarily used in DeFi, on-chain trading, institutional settlements and high speed payments.
  3. HyperEVM holds over $6.5 billion in USDC to serve as the foundational liquidity, universal collateral and quote asset for the Hyper Liquid ecosystem.
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4

u/anonuemus 4d ago

and what about usdt?

3

u/semanticweb 2d ago

Mostly concentrated on tron network. I don't have chain specific data

2

u/MathematicianOwn8847 4d ago

Ethereum is still leading, but Solana and Hyperliquid are catching attention.

2

u/semanticweb 4d ago

Absolutely. But it will take a lot of time for them to catch up. They have to achieve 8x growth

6

u/No-Masterpiece2246 4d ago

All of it can be seized, frozen, or revoked at a moment's notice👀

-1

u/Some_People_Say_ 3d ago

Pretty easy to avoid. Don't launder money and don't deal with sanctioned parties. You know... don't break the law. Not really different from fiat. You break the law, they take your money.

3

u/anonuemus 2d ago

it's more complicated than that, what if some flagged wallet sends dust to your wallet?

1

u/Some_People_Say_ 2d ago

Dust on its own doesn’t get your wallet frozen. Issuers like Circle and Tether freeze specific addresses tied to sanctions designations, hacks or law enforcement requests, not wallets that happened to receive a few cents they never asked for. Compliance teams see dusting all the time and know you have no control over what gets sent to a public address. What matters is what you do with it. Don’t touch it, don’t move it, and you’re fine.

1

u/wack_overflow 2d ago

Does this approach not actually give lots of power to an attacker with a flagged wallet?

Imagine they just target your exchange deposit address. "What you do with it" doesn't matter - your exchange can and will seize all of your funds immediately and potentially report you to authorities.

Seems like a stupid policy and massive vector for blackmail

2

u/pitalik 4d ago

The $6.5b USDC on hyperliquid also earns yield for the ecosystem. ~3.3% after circles cut and expenses. ~$15m a month in usdc which goes straight into buybacks and burns

3

u/semanticweb 4d ago

what is the inflation rate for $hype?

2

u/OkMathematician168 4d ago

Where is the rest?

2

u/Bluejumprabbit 2d ago

Ethereum still holds most USDC but the growth sits on Base and Solana now, Base mostly because Coinbase routes its own flows straight there. Track how much of each chain's supply is natively minted, a chain running mostly bridged USDC is leaning on Ethereum liquidity and can drain fast the moment yields shift.

1

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