USDT wins payments, USDC wins DeFi as stablecoins diverge: Dune
Summary
USDT and USDC are increasingly serving different roles rather than competing directly. USDT dominates payments and remittances: it settled about $95 billion in identified commerce payments in the first half of 2026, far above USDC’s $14 billion, and represented about 92% of B2B stablecoin payment volume. On Tron, most USDT supply sits in ordinary wallets, reinforcing its use as a transaction asset. USDC leads in DeFi and trading activity, with massive transfer volumes on Base and Ethereum, and very high daily velocity on Base. Together, USDT and USDC make up about 83% of the roughly $315 billion stablecoin market. US.S. regulation is also advancing, with the GENIUS Act already passed and the broader CLARITY Act under debate.
