USDT and USDC Control 85% of $302B Stablecoin Market
- —USDT leads with $183.4B, or 60.6% of the stablecoin market
- —USDC holds $72.7B, driven by institutional and regulated demand
- —USDS ($6.8B), USDe ($4.7B) and USD1 ($4B) all sit near or below $5B
- —Circle paid out $819M to distribution partners in H1 2026
Why it matters: The USDT-USDC duopoly keeps widening on liquidity and distribution, making it nearly impossible for challengers to flip and drawing more regulatory scrutiny to Tether.
Source: CoinGape