tl;dr
USDC trading volumes reached a record $219 billion in April, doubling since January, driven by Circle's partnership with Binance, which expanded USDC's market presence. This growth contrasts with declining volumes for competitor stablecoin USDT, whose centralized exchange volumes nearly halved betwe...
USDC trading volume reached a record $219 billion in April, doubling since January, primarily driven by a strategic partnership with Binance that expanded its market dominance.
This significant growth contrasts with declining activity in competing stablecoins like USDT, whose centralized exchange volumes nearly halved between November 2024 and April 2025 amid a broader market slowdown and reduced retail participation.
Bitcoin's volatility, including struggles to maintain resistance levels at $90,000 and $95,000, contributed to a market-wide aversion to risk, further pressuring USDT volumes and allowing USDC to capitalize on the opportunity.
USDC’s stronger regulatory positioning, especially in light of the upcoming EU Markets in Crypto Assets (MiCA) legislation—which requires compliance favoring transparency—gives USDC an additional strategic advantage over USDT.
The partnership between Circle and Binance significantly expanded USDC’s market presence, helping USDC surge to consecutive all-time high volumes amid a muted broader market.