Jun 23, 2025
Overview
Stablecoin supply is one of the market’s favorite adoption meter. Today you can long or short USDC’s Total Supply directly on Alkimiya.
What is the weekly USDC total supply?
Stablecoins are undergoing a Cambrian explosion: the combined market value of dollar-pegged tokens has risen from roughly $200 bn to about $250 bn, a 25 % increase YTD. Within that surge, USDC has outpaced its peers, with supply climbing from ≈ 43.7 bn to ≈ 61.6 bn YTD, representing a 41 % jump.
Up until this point, the only way to bet on this growth was by trading Circle stock, where stock-specific factors obscure the underlying dynamics. Alkimiya’s total supply market strips those out and delivers clean exposure to the monetary base of USDC.
The USDC Total Supply market offers several advantages:
Pure macro-on-chain play: Hedge or express views on stablecoin velocity the way macro desks trade M2 or Fed-funds futures, but with native crypto rails.
Transparent & verifiable: Settlement draws from Circle API snapshots, removing oracle games and balance sheet fog.
Capital-efficient: A dynamic collateral factor enables up to ~12× notional exposure without tying up full cash collateral.
Composable building block: Treasuries, issuers, market makers, and structured-yield products can plug in to hedge or create instruments tied to the USDC total supply.
Why does USDC supply matter?
The evolution of stablecoins mirrors the history of crypto adoption itself. As traditional businesses build on-chain rails, demand is shifting toward stablecoins that are both liquid and regulation-friendly. USDC already leads this race: it is widely recognized, transparent, and backed by a newly public company.
When risk-on sentiment rises, supply expands; when markets tighten, supply contracts. USDC supply thus serves as a real-time signal of crypto macro cycles.
For a quantitative deep-dive on the supply dynamics, read our article.
How does this market work?
An expanding supply usually points to deeper liquidity rails for exchanges and DeFi protocols, a lower opportunity cost of parking cash on-chain, and a wave of new fiat on-ramps from regulated financial institutions, often marking a fresh influx of U.S. capital.
If you think the weekly Total Supply is going to pick up over the next week, by taking a LONG position, you're anticipating that the Total Supply ends up higher than when you entered the position.
Redemptions, by contrast, compress balances and frequently foreshadow risk-off sentiment. For traders already keeping an eye on reserve data, the overnight repo curve, encroaching competitors and shifts in stablecoin market share, USDC’s supply curve is one of the market’s most reliable early signals.
Expecting Total Supply to drop due to redemptions? Or if you think the market is currently overpriced, you may want to hedge against that by taking a SHORT position. In this case, you're speculating that the Total Supply will end up lower than your entry price.
Product specs:
Component | Details |
|---|---|
Index | Weekly average of USDC’s circulating supply, calculated directly from Circle’s public API. A transient Friday-night 500mm mint is therefore smoothed out. |
Pool | One continuously open pool of offsetting LONG and SHORT positions. Traders may enter or exit at any moment during the weekly epoch. |
Collateral & Leverage | Positions are fully collateralized in USDC, yet a dynamic collateral factor calculated from year-to-date weekly volatility, permits up to 12x notional exposure without compromising solvency. |
Payout | At the end of the week, the pool settles in USDC. LONGs profit if the final weekly average prints above their entry level; SHORTs profit if it prints below. |
Resolution Source | Circle API. Circle underpins the data pipeline: it publishes daily supply, weekly reserve breakdowns, and monthly Deloitte attestations. Each file lists the precise balance across all USDC-approved chains at 23:59 UTC (e.g., 61.41 B USDC outstanding on 30 Apr 2025), giving traders an independent audit trail for every settlement print. |
Looking ahead
USDC Total Supply is only the opening act. Next we will introduce markets for:
USDC/USDT Total Supply Ratio
USDe/USDC Total Supply Ratio
USDC on Solana/USDC on EVM Total Supply Ratio
and many more!
Alkimiya is turning the market’s most watched charts, into a tradable, liquid market. If you believe stablecoins are the next stage of the global payment system, this is your chance to participate in its fundamentals directly.
Alkimiya is a universal markets protocol for trading fundamentals. It lets traders transform real-world metrics, e.g. macro indices, commodities, on-chain revenues, blockspace, into liquid prediction markets. Powered by a synthetic-asset engine and market-making vaults, Alkimiya offers deep liquidity and integrates seamlessly into the broader on-chain economy.