USD Coin (USDC) witnessed a 59% increase in wallets holding at least $10, despite a 44% decline in its circulating supply, dropping from $45 billion to $25 billion in 2023. This growth in user base, amidst a challenging year marked by interest rate hikes and regulatory pressures causing a shift to traditional markets, signals a rising acceptance of USDC. The coin, which momentarily lost its peg during a 2023 banking crisis, quickly recovered, underlining its resilience. In early 2024, Circle, USDC's issuer, announced an IPO and a partnership to expand its reach in Africa, indicating a strong focus on future development and broader adoption.
