USDC’s circulating supply has increased by 80% amid increased on-chain activity. As of January 2, USDC’s circulating supply was approaching $44 billion, nearly double the 2023 low. As users migrate to networks other than Ethereum, USDC’s distribution has become more balanced. The rise of alternative layer-1 networks like Solana and Hyperliquid reflects this shift. Analysts predict that USDC’s market cap could double this year. Do you think this trend will continue? Share your thoughts in the comments.