Circle’s USDC stablecoin traded $40.2 billion on decentralized exchanges during weekends in the third quarter of 2026. All of that activity occurred when conventional bank transfers are suspended, with single-day stablecoin transfers reaching up to $38 billion. For context, Visa’s average daily transaction volume sits at roughly $40 billion, putting on-chain dollars at card-network scale on days when wire desks are dark. About 69% of USDC’s on-chain activity was tied to DEX liquidity provision, while 23% came from flashloans. USDC’s circulating supply stood at around $74.6 billion by the end of September 2026.
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