Research firm Bernstein says USDC is kicking off a new growth cycle. According to their report, USDC’s circulating supply jumped by about $2 billion over the past week. They link this spike to a surge in transaction activity and several factors that could keep the digital dollar on an upward track.

USDC Supply Jumps by $2 Billion

Over the past week, USDC’s supply in circulation has grown by $2 billion. That signals rising demand for the stablecoin, which is widely used for trading and parking funds across the crypto market. Bernstein analysts point to increased transaction volume as a key driver behind the move.

What’s Fueling USDC’s Growth?

Bernstein highlights a few catalysts that could keep USDC’s supply expanding. These include a pickup in user activity and broader use cases for the stablecoin across different corners of the crypto economy.

Circle Gets a $140 Valuation

On the back of USDC’s momentum, Bernstein has set a target valuation of $140 for Circle. The analysts say this reflects their bullish outlook for the company behind one of the world’s top stablecoins.

Why This Matters for the Market

The surge in USDC supply and Bernstein’s upbeat forecast could ripple through the entire stablecoin sector—and spark more investor interest in this part of the crypto space.