USDC Network Activity Fell 40% in a Month: Three Charts Reveal Why

2 hours ago 2

Rommie Analytics

Key Takeaways

  • Approximately 40% drop from peak to trough over 33 days.
  • Recovery from low: 22.4% – still 26.4% below the March 21 peak.
  • Total supply (ERC20): 54.4B on May 12, down from ~55.2B on May 10.
  • Exchange reserve: 14.7B.

What the 40% Drop and Partial Recovery Actually Indicate

Active addresses recovering from 118,590 to 145,110 while still sitting 26% below the March 21 peak of 197,265 means the recovery is real but incomplete, which is a more analytically useful position than either a full recovery or a continued decline, because it defines the next threshold that matters.

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