The number of wallets holding at least 10 USDC increased by 59% in 2023

Circle, the issuer of USDC, has released the "USDC Economic Conditions" report, covering the current major trends and changes in USDC and the "New Internet Financial System". 2023 is a challenging year for USDC, with its circulating supply decreasing from $45 billion to $25 billion, a decrease of 44%. However, the number of wallets holding at least 10 USDC has increased by an impressive 59%, totaling over 2.7 million. The report highlights a significant increase in the practical use of USDC in remittances and trade financing. At the same time, it notes a substantial decline in the role of USDC in speculative trading, dropping by 90% over the past five years.