The data that USDT's 95 billion merchandise payment + B2B accounts for 92% is indeed impressive, but USDC's trillion-level transfers on DeFi, Base, and Ethereum cannot be underestimated. The duopoly pattern is becoming increasingly clear.

Coinjie.com News: According to the latest data from Dune Analytics, in the first half of 2026, USDT completed about $95 billion in commodity payment and settlement transactions, far higher than USDC’s $14 billion. In the business-to-business (B2B) payment sector, USDT’s share is as high as 92%. On Tron, the largest network for USDT, about 93% of the token supply is stored in ordinary wallets. By comparison, USDC has a significant advantage in the DeFi space: in June, the transfer volume processed by USDC on the Base network was about $2.6 trillion, while on the Ethereum network it was about $1.6 trillion. Currently, USDT and USDC together account for 83% of the entire stablecoin market, with a market cap of about $315 billion.