USDC price holds near peg as Q3 usage accelerates
Published on 11/11/2026 at 13:09 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSUSDC usage expands beyond price stability
- USDC was listed at 1.0010 USD on the retrieved Investing.com page, close to its intended dollar peg.
- Circle reported third-quarter USDC onchain transaction volume of 13.9 trillion USD, up 49 percent year over year.
- Average USDC in circulation rose 8 percent to 73.3 billion USD, while reserve income fell 8 percent to 658 million USD.
- Circle linked part of its quarterly revenue increase to a 182 million USD ARC token presale.
USDC price remains close to the dollar peg as Circle's third-quarter operating data point to higher payment and blockchain activity. The retrieved Investing.com USDC page displayed 1.0010 USD, a 24-hour range of 1.0009 to 1.0011 USD, 24-hour volume of 10.48 billion USD and market capitalization of 70.02 billion USD. The page showed a time of 15:20:21 on the November 11 retrieval. Its reported 52-week range was 0.9991 to 1.0023 USD.
Transaction activity accelerates
Circle's November 4 results release said average USDC in circulation reached 73.3 billion USD in the third quarter, an 8 percent increase from the prior-year period. USDC onchain transaction volume rose 49 percent year over year to 13.9 trillion USD. The figures indicate that network activity expanded faster than the supply of tokens in circulation, although transaction volume does not directly determine the stablecoin's dollar value.
Circle also reported that its payments network reached 41.3 billion USD in annualized total payment volume. The company said Visa moved stablecoin prefunding through Visa Direct from pilots to commercial deployment, with USDC used for eligible cross-border payouts in more than 180 countries. Circle also highlighted a renewed Binance partnership, including a 100 million USD equity investment by Binance, and an agreement to acquire Tazapay, subject to regulatory approvals and expected to close in 2027.
Growth comes with earnings caveats
The same results show why adoption and issuer economics should be assessed separately. Circle's reserve income fell 8 percent year over year to 658 million USD, primarily because the reserve return rate declined by 61 basis points. Total revenue and reserve income nevertheless increased 17 percent to 865 million USD, while net income from continuing operations rose 5 percent to 226 million USD.
A material part of the quarter's revenue increase came from outside the core reserve business. Other revenue reached 207 million USD, including 182 million USD from the ARC token presale. Circle's adjusted EBITDA rose 85 percent to 317 million USD, with the company explicitly attributing the result in part to ARC presale revenue and lower distribution costs. For investors, this makes the growth in USDC usage more relevant than the headline earnings increase, but it also means the reported quarterly profit contains a significant non-recurring contribution.
USDC price data therefore continue to describe a stablecoin near its target rather than a conventional growth asset. The central questions are whether higher transaction activity leads to durable payments revenue and whether circulation can grow as reserve yields change. Further background is available on the USDC topic page.
