Circle Builds Four-Layer Stack Around Arc as USDT Leads Stablecoin Market Cap
2026-07-21 14:31:19
Circle is building a four-layer financial stack around Arc, while Tether's USDT remains the largest stablecoin by market cap at about $184 billion, compared with USDC's $73 billion. According to NS3.AI, Circle's first-quarter results showed a $222 million ARC token presale at a $3 billion valuation. The results also cited Visa Onchain Analytics figures showing USDC handled 63% of stablecoin transaction volume in the first quarter.
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