Binance Leads USDC Trading at $24 Billion Weekly, Circle's Share Price Soars 270% Post-IPO
Binance has taken the lead in USDC trading, averaging $24 billion weekly in May 2025. Meanwhile, Circle's shares have soared since their IPO on Yahoo Finance, and USDC's market share has reached a record high of 20%.
The shift in USDC trading comes as the number of perpetual contracts quoted in USDC has quadrupled since 2023, reaching nearly 90. This growth is supported by USDC's widespread availability on lending and borrowing platforms, facilitating efficient arbitrage during market dislocations.
Circle's success is evident in its share price, which closed up 140% from its first-day close and over 270% above the $31 IPO price on Google Finance. The IPO on the New York Stock Exchange on June 5th saw shares surge well beyond expectations. This momentum is reflected in USDC's volumes and supply, which hit all-time highs in Q2 2025.
Circle's EUR-backed stablecoin, EURC, has also performed well, capturing 47% of the EUR stablecoin market since MiCA took effect.
Binance's dominance in USDC trading and Circle's impressive growth, including its EURC stablecoin, indicate a strong future for stablecoins. With an average of 40,000 active wallets each week sending at least 100 USDC on Ethereum, the demand for USDC continues to rise. Circle's appeal to investors, offering exposure to the future of payments, further solidifies its position in the stock market today.
