Circle: The number of USDC wallets valued at over $10 in 2023 exceeds 2.7 million, a year-on-year increase of 59%

ChainCatcher news, according to a report released by the stablecoin issuer Circle on January 15, Cointelegraph reported that in the first 11 months of 2023, the circulating supply of USDC decreased from $45 billion to $25 billion, a decline of about 44%. Circle attributed this decline to "rising interest rates, regulatory crackdowns, bankruptcies, and outright fraud" in the cryptocurrency space, leading users to withdraw funds from the crypto ecosystem and invest in traditional markets.

Additionally, the report stated that although the circulating supply has decreased, the number of wallets holding more than $10 USDC grew by over 2.7 million in 2023, an increase of 59% compared to 2022.