USDT Loses Ground as USDC Gains Momentum in Stablecoin Market
The stablecoin market is undergoing significant changes, according to new data from NOWPayments. While USDT remains the dominant stablecoin by transaction volume, USDC is gaining momentum quickly.
In H1 2026, USDT's transaction count declined by 1.55% compared to H1 2025, while its transaction volume fell by 14.99%. However, USDT still accounted for 66.92% of stablecoin transaction volume on NOWPayments in H1 2026.
On the other hand, USDC saw a significant increase in transaction activity, with a 209.02% growth in transaction count and a 101.63% growth in transaction volume year over year.
The divergence between USDT and USDC reflects the increasingly differentiated stablecoin landscape. USDT offers global scale and liquidity, while USDC has a clearer position within Europe's MiCA-regulated environment.
'For many businesses, the question is no longer necessarily USDT or USDC,' said Kate Lifshits, CBDO of NOWPayments. 'Supporting both can provide more flexibility across markets, partners, and operational requirements.'