USDC Surpasses USDT in Adjusted Stablecoin Transaction Volume in 2026

New research indicates that USD Coin has overtaken Tether in adjusted transaction volume so far in 2026, marking a notable shift in stablecoin usage trends. Data shows USDC accounting for roughly 64% of adjusted transfer volume compared with USDT, reversing a long-standing pattern in which USDT dominated activity between 2019 and 2025.

Adjusted volume focuses on transfers likely linked to real economic activity rather than automated or high-frequency trading. Analysts measured transactions involving addresses associated with centralized exchanges, decentralized platforms, and other entities that do not exceed 1,000 transactions or $10 million in volume within a 30-day period.

Stablecoin Market Cap Still Dominated by USDT

Despite the change in transaction dynamics, USDT remains the largest stablecoin by supply. Tether’s total market capitalization stands near $184 billion, while USDC’s market value is approximately $79 billion.

Real-World Payments Driving USDC Usage

Analysts suggest USDC’s growing share reflects stronger adoption in practical financial use cases, including payments, transfers between exchanges and decentralized finance platforms, and other forms of real-world economic activity. Over time, the stablecoin most widely used in everyday transactions may become the dominant force in the market.

Disclaimer

This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.