USDC is quietly taking share Over the last twelve months USDC from @circle has added roughly five percentage points of stablecoin market share. That shift shows up both at the network level and inside money markets. Circulating supply has climbed from about 34B to around 68B. On @aave, USDC supplied rose from roughly 1.5B to about 5.2B while borrow pricing stayed broadly stable near the mid-4 percent range, aside from the late-year stress spike. In other words, more USDC is being used as productive collateral and credit fuel without a reset in baseline funding costs. USDT from @Tether_to still dominates by absolute size and its Aave market has heated up this summer, with supply APR printing near 7% as utilization tightened. Yet the share gains for USDC suggest a growing preference for assets that slot cleanly into compliance-heavy integrations, fiat on and off ramps, and institutional workflows.