Circle’s USDC surpasses Tether’s USDT in year-to-date volume: Mizuho report

In 2026, USDC’s adjusted transaction volume reached approximately 2.2 trillion USD, while USDT was at 1.3 trillion USD, giving USDC a 64% market share.

Despite USDC’s increase, Tether remains the largest stablecoin by market capitalization at around 184 billion USD compared to USDC’s 79 billion USD.