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Guavy AI Editorial Team••Sentiment: 2•Clout: 60

Stablecoin Market Splits Between USDT and USDC

USDTETHUSDC

The stablecoin market is experiencing a significant shift as Tether's USDT and Circle's USDC diverge in their use cases. Data from DuneAnalytics shows that USDT dominates commercial payment settlements, processing $95B in such transactions in the first half of 2026, while USDC leads in DeFi applications.

USDT holds a 92% market share in B2B payments and has 93% of its supply stored in regular wallets on the Tron network. In contrast, USDC dominates DeFi with $2.6T in transfer volume on Base in June and $1.6T on Ethereum.

The stablecoin market currently consists of two dominant players, USDT and USDC, which together make up 83% of the $315B market. This development suggests that stablecoins are maturing into distinct roles rather than competing for dominance.