Circle's stock price halved within 45 days, accompanied by a sharp drop in USDC circulation, highlighting the stablecoin issuer's deep ties to the DeFi ecosystem. Data shows 75% of USDC flows through exchanges and DeFi protocols, while TVL shrinkage and security incidents add to market concerns. Though USDC is used in compliant payments, its issuance growth remains heavily reliant on DeFi activity.
Circle's stock price halved in just 45 days, while USDC circulation also saw a significant decline, underscoring the stablecoin issuer's heavy reliance on the DeFi ecosystem. Data reveals that 75% of USDC circulates through exchanges and DeFi protocols.
Shrinking total value locked (TVL) and recurring security incidents have intensified market worries about USDC's growth outlook. Despite Circle's expansion into institutional payments and compliance use cases, USDC issuance growth remains tightly tied to DeFi market activity.
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