USDC Accounts for 63% of Stablecoin Trading Volume in Q1, USYC Becomes Largest Tokenized Money Market Fund Globally
On May 11, Circle released its Q1 2026 financial report, showing that the circulation of USDC reached $77 billion, a year-on-year increase of 28%. The on-chain trading volume for Q1 reached $21.5 trillion, a year-on-year increase of 263%. According to Visa Onchain Analytics, USDC accounted for 63% of stablecoin trading volume in the first quarter of this year. Additionally, Circle announced that as of May 7, its USYC has become the largest tokenized money market fund in the world. The financial report also indicated that the company's total revenue and reserve earnings for Q1 were $694 million, a year-on-year increase of 20%; adjusted EBITDA was $151 million, a year-on-year increase of 24%.
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