Stablecoins Reach Record Highs of $1,79 Trillion: USDC Dominates the Market

Stablecoin transaction volumes reached an unprecedented high of $1,79 trillion in June, a 63% increase from the $1,1 trillion in May, according to payment giant Visa. These record figures surpass the previous record of $1,78 trillion recorded in February 2026, and have risen by as much as 125% compared to the same period last year. This not only highlights the growth in usage but also raises questions about the resilience of stablecoins in an otherwise unfavorable crypto climate.

Although Tether's USDt the largest stablecoin by market capitalization, the majority of the transaction volume — approximately 67% — came from Circle's USDC, which accounted for $1,21 trillion in June. Opposite this stood USDT, which represented about 32% of the volume, or $576 billion. PayPal's PYUSD followed as the third largest stablecoin by transaction volume with $2,42 billion in June.

The most used networks for stablecoin transactions in June were Coinbase's Ethereum layer-2 network, Base, with $565 billion — accounting for 31,5% of the total — and Ethereum itself with $562 billion. Tron completed the top three with a volume of $320 billion, or approximately 18% of the total.

Visa has partnered with Artemis, Allium Labs, and Castle Island Ventures to develop a custom transaction methodology that filters out “distracting metrics” such as high-frequency trading bots and repeated smart contract transactions. This helps provide a more authentic estimate of stablecoin organic activity levels.

Current figures show increasing adoption of stablecoins and their role as essential infrastructure for value transfer, liquidity provision, and activities within decentralized finance (DeFi). This trend is occurring regardless of the speculative price fluctuations that characterize the broader crypto market. Experts, such as Ruck, predict that stablecoins will continue to evolve and become a fundamental layer of the Web3 economy, with the potential for an even greater impact as the market continues to develop.

A newcomer to this competitive space is Open Standard, which recently announced Open USD (OUS), with the support of more than 140 payment, banking, and technology companies, including Visa and Mastercard. This appears to further fuel the growth of the stablecoin ecosystem, suggesting that we are heading for an interesting time.

Frequently Asked Questions

How should I interpret the recent rise in stablecoin transactions?
The rise in stablecoin transactions is seen as a sign of the maturity of the crypto infrastructure. It highlights the increasing real-world applications such as payments, DeFi, and cross-border remittances.

What does USDC dominance mean for investors?
If USDC constitutes the bulk of the transaction volume, this indicates confidentiality and market acceptance, which can lead to a stabilizing influence within crypto ecosystems. This offers investors new opportunities in the market.

What are the future expectations for stablecoins?
Stablecoins are increasingly seen as crucial for the financial infrastructure of the future, with excellent prospects in the evolving Web3 economy. These assets are expected to play an increasingly important role in both volatile and stable markets.