Coinbase Institutional: USDC’s annualized circulation is more than 10 times that of USDT, and over 90% of transfers on Base come from 3 contracts
Coinbase Institutional’s latest “State of the Network” report shows that USDC’s annualized velocity, measured against adjusted supply, reached 741x—ten times USDT’s 74x—even though USDT’s market cap is more than $100 billion higher than USDC’s. More than 90% of USDC transfers on Base came from just three smart contracts. USDC Annualized Velocity: 741x (Source: Talos Network Data Pro) According to the report, supply measures the scale of a stablecoin’s monetary base, while velocity reflects how f
MarketWhisper·1h ago


