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News

USDC Polygon Launch: $475 Billion In Transactions And Rising Trends

September 25, 2023 - Around 2 mins mins to read

Key Points:

  • Circle announces USDC Polygon Launch will be coming soon.
  • Polygon PoS facilitated $475 billion in bridged USDC transactions across 230 million transactions from July 2021 to June 2023.
  • Person-to-person transactions grew from 16% to 40% of all bridged USDC transactions from January to June 2023.
USDC Polygon Launch is coming soon, powered by $475B transactions, with person-to-person usage up to 40%—wallets holding >$10 USDC surge to 207K.
USDC Polygon Launch: $475 Billion In Transactions And Rising Trends

Circle recently announced a significant development in the crypto world, revealing plans to launch native USDC on the Polygon chain. This move marks the fifth blockchain to host native $USDC, with Polygon joining the ranks soon.

From July 2021 to June 2023, Polygon PoS facilitated approximately $475 billion in bridged USDC transactions, encompassing a staggering 230 million transactions.

Monthly transaction volumes reached around $20 billion, with each transaction incurring an average fee of approximately 0.0238 MATIC, equivalent to roughly $0.012 at the time of writing.

A noteworthy trend emerged within these transactions: person-to-person transactions surged from 16% of all bridged USDC transactions in January 2023 to an impressive 40% by June 2023, accounting for $15 billion in transaction volume.

Further demonstrating the significance of this development, the number of wallets holding more than $10 in bridged USDC skyrocketed from around 4.6 thousand wallets in May 2021 to a substantial 207 thousand wallets by June 2023. This growth, representing approximately 22% of all USDC wallets, underscores the increasing utility of digital dollars across the globe.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Polygon

Polygon Bridge

USDC

USDC Circle

USDC holdings

USDC options

Author

Thana

I am a news editor at Coincu, where I produce daily editorial packages and manage the knowledge and review article sections. Before journalism, I earned a Bachelor's degree in Global Logistics and Supply Chain Management from Northampton University and studied news journalism at Press Association Training.
News

USDC Polygon Launch: $475 Billion In Transactions And Rising Trends

Key Points:

  • Circle announces USDC Polygon Launch will be coming soon.
  • Polygon PoS facilitated $475 billion in bridged USDC transactions across 230 million transactions from July 2021 to June 2023.
  • Person-to-person transactions grew from 16% to 40% of all bridged USDC transactions from January to June 2023.
USDC Polygon Launch is coming soon, powered by $475B transactions, with person-to-person usage up to 40%—wallets holding >$10 USDC surge to 207K.
USDC Polygon Launch: $475 Billion In Transactions And Rising Trends

Circle recently announced a significant development in the crypto world, revealing plans to launch native USDC on the Polygon chain. This move marks the fifth blockchain to host native $USDC, with Polygon joining the ranks soon.

From July 2021 to June 2023, Polygon PoS facilitated approximately $475 billion in bridged USDC transactions, encompassing a staggering 230 million transactions.

Monthly transaction volumes reached around $20 billion, with each transaction incurring an average fee of approximately 0.0238 MATIC, equivalent to roughly $0.012 at the time of writing.

A noteworthy trend emerged within these transactions: person-to-person transactions surged from 16% of all bridged USDC transactions in January 2023 to an impressive 40% by June 2023, accounting for $15 billion in transaction volume.

Further demonstrating the significance of this development, the number of wallets holding more than $10 in bridged USDC skyrocketed from around 4.6 thousand wallets in May 2021 to a substantial 207 thousand wallets by June 2023. This growth, representing approximately 22% of all USDC wallets, underscores the increasing utility of digital dollars across the globe.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.