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"Major Highlights:

2020-2021 DeFi Boom: USDC grew rapidly during the DeFi explosion, reaching about $26 billion USDC (cryptocurrency) - Wikipedia
July 2022 Peak: Circulation reached $55 billion USDC (cryptocurrency) - Wikipedia, marking the highest point before market correction
March 2023 SVB Crisis: USDC temporarily lost its peg when Circle revealed $3.3 billion (about 8% of reserves) were at risk due to Silicon Valley Bank's collapse, causing circulation to drop to around $22 billion USDC (cryptocurrency) - Wikipedia
2024-2025 Recovery: USDC circulation grew by more than 78% year-over-year CircleCircle, with current circulation at approximately 74 billion tokens"