USDC Overtakes USDT in Trading Volume as Institutional Interest Rises

Circle's USDC now holds 64% of adjusted stablecoin volume, surpassing Tether's USDT for the first time since 2019, according to Mizuho Bank reports.

The stablecoin market is entering a new phase after Circle’s USDC overtook Tether’s USDT in trading volume for the first time since 2019, according to data cited by Mizuho Bank.

This development comes amid surging interest in stablecoins from institutional investors and traditional financial institutions.

According to Mizuho data, USDC now holds approximately 64% of adjusted stablecoin volume this year, signaling a significant reshuffling of liquidity within the crypto ecosystem.

USDC Gains Market Share

Tether’s USDT has long been the undisputed leader of the stablecoin market, but recent months show a gradual shift of liquidity toward USDC.

Analysts point to several primary reasons for this change:

• Stronger institutional adoption of USDC
• Increasing regulatory clarity surrounding Circle
• Expanded use of USDC in DeFi and payment systems

This market share realignment arrives as stablecoins become critical infrastructure for crypto trading, DeFi, and international payments.

Druckenmiller: Payments Will Move to Stablecoins

In parallel, billionaire investor Stanley Druckenmiller stated that he expects global payment systems to operate primarily on stablecoins within the next 15 years.

He believes stablecoins possess significant advantages over existing financial infrastructure, as they enable faster, cheaper, and more efficient transactions.

His remarks reflect a growing conviction among institutional investors that stablecoins could become the primary bridge between traditional finance and the blockchain economy.

What Investors Are Watching

Investors will closely monitor whether USDC’s growth can be sustained and how regulations in the U.S., Europe, and Asia will shape the future of stablecoins.

A key factor will be the entry of banks and payment companies into the sector, which could accelerate the mass adoption of stablecoins as a global payment infrastructure.