The supply of the Coinbase-backed stablecoin USD Coin (USDC) has grown by 250% since the start of 2020, including an 80% expansion in just the past two months.
After starting the year with a nearly $520 million market cap, USDC now ranks as the 16th-largest crypto asset with a $1.86 billion capitalization — beating out all other major stablecoins except for the $14.5 billion Tether (USDT) by at least four times.