Circle's stock price halved in 45 days, accompanied by a sharp decline in USDC circulation. Data shows that 75% of USDC flows through exchanges and DeFi protocols, with TVL shrinkage and security incidents amplifying market concerns. Although USDC has applications in compliant scenarios like institutional payments, its actual issuance growth heavily relies on DeFi activity, making it a barometer of the DeFi ecosystem.
Circle Stock Price Halves in 45 Days, USDC Circulation Plummets
Circle's stock price halved in 45 days, alongside a significant drop in USDC circulation. Data reveals that 75% of USDC circulates on exchanges and DeFi protocols, with TVL contraction and security incidents exacerbating market unease. Despite USDC's use in compliant areas such as institutional payments, its issuance growth remains heavily dependent on DeFi activity. The drastic stock price fluctuation and concurrent decline in USDC circulation highlight Circle's deep entanglement with the DeFi ecosystem, effectively acting as a DeFi barometer.
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