AI tokens rise against the trend, stablecoin trading volume hits a record $1.8 trillion.

Written by: Cointelegraph

Compiled by: AididiaoJP, Foresight News

Despite the overall decline of the cryptocurrency market in 2026, the performance of artificial intelligence (AI) and stablecoin sectors has outperformed the broader market. Relevant data shows that usage in these two areas continues to grow even as prices of other assets decline.

Key Points

• The AI sector recorded the smallest decline in Q1 2026, at just 14%.
• The total market capitalization of stablecoins reached an all-time high of $320 billion, with monthly trading volume hitting $1.8 trillion, also a historical peak.

AI and Stablecoin Sectors Rise Against the Trend

In 2026, Bitcoin’s price fell by 18.5%, and the total market capitalization of cryptocurrencies dropped to $2.42 trillion, with most altcoins lagging behind. The market is affected by concerns and uncertainties related to the conflict between the U.S. and Israel—Iran, while the Federal Reserve maintains a hawkish stance, leading to an overall cautious sentiment.

In contrast, AI and stablecoin-related businesses continue to grow against the trend, demonstrating strong fundamentals and significant expansion, reflecting a shift in market focus from speculative behavior to infrastructure development.

Taking USDC issued by Circle as an example, data from Token Terminal shows its supply has reached $78 billion, growing by 220% since November 2023.

Meanwhile, the weekly active user count for ChatGPT increased from 85 million in November 2023 to 900 million in March 2026, nearly a tenfold growth during the same period.

(Chart: USDC Supply and ChatGPT Weekly Active Users; Source: Token Terminal)

Grayscale’s Q1 2026 report also confirms this trend. The report states that the AI sector experienced the smallest decline in Q1, at 14%, while the consumer and culture sectors fell by 31%, smart contract platforms dropped by 21%, and the currency sector decreased by 21%.

The digital asset management company indicated that this suggests “investor preferences have shifted from momentum-driven, more speculative sectors.” The report further noted:

“Despite the overall market sentiment remaining low, capital has begun to concentrate on projects with stronger fundamentals that align with key themes such as AI and tokenization.”

(Chart: All Sector Returns in Q1 2026 are Negative; Source: Grayscale)

Currently, the total market capitalization of AI tokens is approximately $17.4 billion, having risen by 30% over the past 30 days. Among them, Bittensor and NEAR Protocol (NEAR) have led the gains, with prices rising by 75% and 30%, respectively.

(Chart: Major AI and Big Data Token Market Capitalization; Source: CoinMarketCap)

In terms of stablecoins, their market size continues to expand. As of March 23, the total market capitalization of stablecoins reached a record $320 billion. Tether’s USDt continues to dominate, with a market capitalization of about $184 billion, accounting for 57% of the total stablecoin supply.

In February 2026, the monthly trading volume of stablecoins reached $1.8 trillion, setting a new historical high, and is now comparable to traditional payment systems. USDC performed well in terms of supply growth, increasing by 80% month-over-month, with last month’s trading volume hitting a historical peak of $1.26 trillion.

(Chart: Total Market Capitalization of Stablecoins; Source: MacroMicro.me)

Stablecoins are cryptocurrencies designed to maintain a stable value, typically pegged to fiat currencies like the U.S. dollar, and can operate across multiple blockchains.

In a bear market environment, stablecoins serve as a reserve of purchasing power and a settlement channel, widely used in trading pairs, tokenization of real-world assets, and yield-generating products. The transfer volume of stablecoins on Ethereum and other blockchains remains high, and institutional-grade products launched by banks and fintech companies are gradually integrating stablecoins for yield management and fund operations. Even as speculative assets struggle, the role of stablecoins as infrastructure remains solid.

“Structural tailwinds” drive growth convergence in both sectors

The reason AI and stablecoin sectors can thrive is that they continue to provide tangible value even after the speculative frenzy has waned.

Token Terminal points out: “AI labs and stablecoin issuers are among the entities with the strongest structural tailwinds in the 2020s.”

The crypto data service provider further states that these two areas are at the “intersection of technology, finance, and geopolitical forces,” with each force independently driving demand for these sectors. The report adds:

“AI is driving improvements in productivity and national defense capabilities, while stablecoins provide financial infrastructure for the global distribution of dollars.”

Crypto trader Mando CT stated in a post on the X platform on March 24 that AI and stablecoins are two of the four leading sectors in 2026.

In explaining the convergence trend of these two sectors, the trader noted that AI requires an instant, low-fee payment system to support its operations, and stablecoins are the “internet currency” to achieve this goal.

Mando CT stated: “These trends are interconnected,” and added:

“2026 is not just another cycle turn but a transformative year from speculation to infrastructure.”

According to Cointelegraph, stablecoins are expected to benefit from AI-driven payment scenarios by facilitating convenient, automated, rule-based transactions between entities, further promoting long-term growth in both areas.