Circle’s USDC Surpasses Tether’s USDT in Transfer Volume
- USDC accounted for 64% of the transfer volume between major stablecoins, translating to $2.2 trillion in adjusted transaction volume.
- In February, total stablecoin transfer volume reached $1.8 trillion, with USDC responsible for approximately $1.26 trillion.
- Solana processed $650 billion in stablecoin transactions in February, more than doubling its previous record.
- USDC’s monthly transfer volume on Solana surged by 300% year-over-year to reach $880 billion.
- USDC represents over half of the total stablecoin liquidity on Solana, which stands at $15.7 billion.
This shift highlights a significant change in the stablecoin landscape, where USDC has emerged as a leader in transactional velocity despite Tether’s dominance in total supply. The increase in USDC’s usage reflects broader trends of faster on-chain activity and regulatory compliance that favor its adoption.
With USDC leading transaction volume at $2.2 trillion compared to Tether’s $1.3 trillion, this marks a pivotal moment for stablecoins and their role within the cryptocurrency ecosystem.
