jonesruby5339

@jonesruby5339

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Meanwhile, holdings are more evenly distributed among blockchain networks as users migrate beyond Ethereum, Blockworks data analytics manager Dan Smith said in a Jan. 2 post on the X platform.

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@danawilson4768

The shift reflects increasing onchain activity and the rise of alternative layer-1 networks such as Solana and Hyperliquid. Analysts expect the trend to continue, with USDC’s market capitalization potentially doubling this year.

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As of Jan. 2, approximately 65% of USDC supplies are on Ethereum, 10% are on Solana, and roughly 15% span Base and Arbitrum — both Ethereum layer 2s — as well as Hyperliquid, a layer 1 for low-latency trading.

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In 2023, USDC remained heavily concentrated on Ethereum, which held 85% of the stablecoin’s circulating supply, Smith said.

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This change is partly because “retail traders increasingly enter the crypto market through Solana [as] speculation intensifies around Solana-based memecoins and AI agent tokens,” Grayscale said in a December research note.

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In 2024, the total value locked on Solana surged from around $1.5 billion in January to nearly $8.5 billion by December, according to data from DefiLlama.

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Cryptocurrency researcher Steno Research expects USDC’s circulating supply to more than double during 2025, reaching highs of around $100 billion.

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“This growth hinges on a critical assumption: that Tether, the largest stablecoin, remains unregulated within the European Union,” Steno said, adding:

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Accelerating stablecoin adoption is particularly bullish for decentralized finance (DeFi), as “stablecoins are the on-ramp to decentralized finance,” Citi said.

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In December, Grayscale added several DeFi applications, including two on Solana, to its list of the top 20 tokens to watch in the first quarter of 2025. They include Ethena, Jupiter and Jito.

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In December, Grayscale added several DeFi applications, including two on Solana, to its list of the top 20 tokens to watch in the first quarter of 2025. They include Ethena, Jupiter and Jito.

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Another priority for the SEC would be to rescind the 2019 framework on how the Howey test’s investment contract argument applies to digital assets and to declare that it no longer refers to the Hinman speech to conduct such analyses.

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The Central American nation will get $1.4 billion from the IMF over the next 40 months after agreeing to measures aimed at dropping its debt-to-GDP ratio, the global lender said in a Dec. 18 statement.

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However, an October survey of Salvadorans found that 92% don’t make transactions using Bitcoin, an increase from a 2023 survey that found 88% didn’t use Bitcoin for transactions.

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The speech, by William Hinman, former SEC director in the division of corporate finance, has improperly created a winner and loser dynamic, The Digital Chamber said.

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“The potential risks of the Bitcoin project will be diminished significantly in line with Fund policies. Legal reforms will make acceptance of Bitcoin by the private sector voluntary,” the IMF said.

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Eric Council Jr., the individual who allegedly hacked the United States Securities and Exchange Commission’s X account in January and posted a message suggesting that Bitcoin exchange-traded funds (ETFs) had been approved, will be allowed to travel for the holidays.

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In a Dec. 13 filing with the US District Court for the District of Columbia, Judge Amy Berman Jackson said Council could travel to North Carolina with a third-party custodian between Dec. 23 and 29. The judge said the alleged hacker “must provide Pre-Trial Services with his precise itinerary and information concerning where he will be staying at least two business days before traveling.”

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