Circle's stock price halved in 45 days, accompanied by a sharp decline in USDC circulation, highlighting its strong correlation with the DeFi ecosystem. Data shows 75% of USDC flows through exchanges and DeFi protocols, with TVL contraction and security incidents intensifying market worries. Despite compliance use in payments, issuance growth remains heavily dependent on DeFi activity. This newsflash covers key data and market impact.
Event Overview
Circle's stock price halved in 45 days, while USDC circulation fell sharply, reflecting its deep ties to the DeFi ecosystem. Data shows 75% of USDC circulates through exchanges and DeFi protocols. TVL contraction and security incidents have exacerbated market concerns. Although USDC is used in compliant institutional payments, actual circulating supply growth still heavily relies on DeFi activity.
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