USDC market cap nears record $80B amid ‘capital flight’ in UAE: Analyst

The market capitalization of the stablecoin USD Coin is approaching a new all-time high near $80 billion, highlighting rising demand for dollar-pegged digital assets globally. �

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According to market data, USDC’s circulating supply has climbed to about $79.2 billion, surpassing its previous peak just under $79 billion recorded in December. The stablecoin’s supply has grown rapidly from around $70 billion in early February to roughly $75 billion earlier this month, reflecting strong inflows. �

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Analysts say part of the demand may be coming from the United Arab Emirates, where some investors are reportedly moving funds into digital dollars. Dubai-based analyst Rami Al-Hashimi suggested that over-the-counter crypto desks in Dubai are struggling to meet USDC demand as investors shift capital away from traditional markets. �

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The analyst linked the surge to stress in the UAE real-estate market, claiming Dubai property prices have fallen roughly 27% this month, which may be pushing investors to convert assets into crypto-based dollar liquidity. Some real-estate listings have even begun offering 5–10% discounts for buyers paying with crypto, reflecting a growing role for digital assets in the region. �

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Meanwhile, research from Mizuho indicates that USDC has overtaken Tether in adjusted transaction volume in 2026, with roughly $2.2 trillion in activity compared with $1.3 trillion for USDT so far this year. However, USDT remains the largest stablecoin by market capitalization at about $184 billion. �

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Bottom line:

The rapid growth of USDC suggests increasing global demand for digital dollars, especially during periods of market uncertainty when investors seek liquidity and stability.$USDC #MetaPlansLayoffs #BTCReclaims70k #PCEMarketWatch #AaveSwapIncident #UseAIforCryptoTrading