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The issuer of the US dollar stablecoin, USDC, Circle, announced on social media that native USDC is set to launch on the Polygon chain. Data reveals that the Polygon POS chain facilitated approximately $475 billion in global USDC bridging transactions over a two-year period (July 2021 - June 2023), with around 230 million transactions. In May 2021, there were approximately 4,600 USDC bridging wallets with balances exceeding $10, but by 2023, this number had grown to 207,000, accounting for approximately 22% of the total USDC wallet count. Furthermore, while on-chain transactions can take various forms (such as peer-to-peer, peer-to-contract, and contract-to-contract), the proportion of peer-to-peer transactions in all bridged USDC transaction volume increased from 16% in January 2023 to 40% in June 2023, totaling around $15 billion. |
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