Circle’s USDC Pulls Ahead of Tether as Stablecoin Volume Hits Record $1.79T

Circle’s USDC Pulls Ahead of Tether as Stablecoin Volume Hits Record $1. 79T CryptoProwl Mon, July 6, 2026 at 9:26 PM GMT+2 2 min read USDC-USD V USDT-USD CRCL USDC Circle's USDC (CRYPTO: $USDC) has spent years chasing Tether's USDT (CRYPTO: $USDT) on market capitalization. Transaction volume is now telling a very different story.

USDC accounted for about 70% of adjusted stablecoin transaction volume during the first half of 2026, compared with roughly 25% for USDT, according to Visa's onchain analytics data. The split marks a sharp change from 2020, when USDT handled nearly 90% of adjusted volume and USDC represented less than 10%. The volume gap has widened alongside a broader surge in stablecoin activity.

Adjusted transaction volume reached a record $1. 79 trillion in June, up 63% from $1. 1 trillion in May and 125% from about $795 billion a year earlier.

Visa's methodology filters out bot activity, exchange transfers and other transactions that can distort raw blockchain volume. More From Cryptoprowl: Ripple, The Company Behind XRP, Is Valued At $50 Billion Eightco Secures $125 Million Investment From Bitmine And ARK Invest, Shares Surge Blockchain Projects Decline 75% As Developers Shift To A. I.

Stanley Druckenmiller Says Stablecoins Could Reshape Global Finance New York Stock Exchange Invests $600 Million In Polymarket Stablecoins processed $8. 82 trillion in adjusted volume during the first six months of the year. That is already above the $5.

8 trillion recorded across all of 2024 and puts 2026 within $2 trillion of the $10. 8 trillion full-year record set in 2025. USDC's growing share also comes as traditional financial firms place greater weight on established stablecoin infrastructure.

Standard Chartered and BNY (NYSE: $BYN) have recently added services tied to USDC, giving clients access to digital-dollar settlement and treasury tools without building separate stablecoin networks themselves. Circle has been positioning USDC around that institutional demand. Its recent product push has focused on making stablecoin payments, settlement and liquidity easier to plug into existing financial workflows, while expanding access across banks, fintechs and payment companies.

Tether still dominates the broader stablecoin market by supply, but transaction flow is creating a different comparison between the two largest dollar-backed tokens. Visa's (NYSE: $V) adjusted data show USDC carrying most of the economic activity moving through stablecoins so far this year. Circle Internet Group (NYSE: $CRCL) stock is currently trading at $69.

07 U. S. per share.