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.

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.

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