Home / Business and Economy / USDC Supply Jumps $1.7B as Demand Surges
USDC Supply Jumps $1.7B as Demand Surges
25 Aug
Summary
- Bernstein maintains $140 price target and Outperform rating for Circle.
- USDC supply increased by $1.7 billion recently.
- Stablecoin activity outside speculation is growing rapidly.
Bernstein analysts have reaffirmed their positive outlook on Circle Internet Group (CRCL), maintaining a price target of $140 and an Outperform rating. Their optimism stems from growing demand for stablecoin payments, blockchain-based capital markets, tokenized assets, and agent payments.
Analysts noted a significant increase in USDC supply, adding approximately $1.7 billion in the past week after a period of stagnation. This growth is attributed to stablecoins absorbing demand for U.S. dollars amid Treasury debt issuance and the broader appeal of "hard assets" like Bitcoin.
Circle holds a substantial share, around 80%, of decentralized exchange and finance volumes. Its Agent Stack platform, launched in May, now supports over 900 paid services, with 99% of x402 agent-payment volume settling in USDC.
Furthermore, stablecoin transaction volume, excluding automated and high-frequency trading, reached nearly $11 trillion in 2025 and is projected to grow at an annualized rate of approximately $17 trillion by July 2026. This represents a 60% increase year-over-year and is seen as independent of potential CLARITY Act legislation expected in September.
