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

The market capitalization of the USDC stablecoin is approaching a record high near $80 billion as demand surges in the Middle East, with analysts linking the spike to capital flight from the United Arab Emirates. USDC’s circulating supply has risen to roughly $79.2 billion, marking a new all-time high for the dollar-pegged stablecoin.