USDC's circulating supply has surged 80% from its 2023 low, nearing $44 billion, as onchain activity increases, reports Blockworks Research. This growth is driven by users diversifying beyond Ethereum to networks like Solana and Hyperliquid. Currently, 65% of USDC is on Ethereum, with Solana holding 10% and the rest spread across other networks. Analysts predict USDC's market cap could double this year. The rise in stablecoin adoption, particularly USDC, is seen as a positive trend for decentralized finance, as stablecoins serve as a gateway to DeFi.