Futures
Access hundreds of perpetual contracts
CFD
Gold
One platform for global traditional assets
Options
Hot
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Introduction to Futures Trading
Learn the basics of futures trading
Futures Events
Join events to earn rewards
Demo Trading
Use virtual funds to practice risk-free trading
CFD
Stock CFD Derivatives
US Stocks
Access real US stocks and ETFs
HK Stocks
Trade quality Hong Kong-listed stocks
Korean Stocks
SK Hynix
Real Korean stocks and top assets
Stock Futures
High leverage, 24/7 trading
Tokenized Stocks
Backed by real stock assets
IPO Access
Unlock full access to global stock IPOs
GUSD
3.8%
Mint GUSD for Treasury RWA yields
Stocks Activities
Trade Popular Stocks and Unlock Generous Airdrops
Launch
CandyDrop
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
Pre-IPOs
Unlock full access to global stock IPOs
Alpha Points
Trade on-chain assets and earn airdrops
Futures Points
Earn futures points and claim airdrop rewards
Promotions
AI
Gate AI
Your all-in-one conversational AI partner
Gate AI Bot
Use Gate AI directly in your social App
GateClaw
Gate Blue Lobster, ready to go
Gate for AI Agent
AI infrastructure, Gate MCP, Skills, and CLI
Gate Skills Hub
10K+ Skills
From office tasks to trading, the all-in-one skill hub makes AI even more useful.
Stablecoins are on the books, but the money hasn’t truly “taken over” yet.
From the key figures in the headline, everything looks healthy: total supply is at a record level between $310 billion and $323 billion. However, the growth rate has slowed; the market has been flat since October 2025, consolidating after the explosive 2025 growth.
Behind the scenes, there’s a significant shift between the two giants. USDT shrank by about $3 billion quarter-over-quarter for the first time since Q2 2022, driven by easing retail demand and frictions in Europe. In the same period, USDC gained market share and surpassed USDT in trading volume, accounting for around 64% of the combined total volume at the start of 2026. By market capitalization, USDT still leads at $184 billion, while USDC is about $79 billion—but USDC is clearly stronger in active usage, especially for corporate transfers and payments.
The real question: are these currencies like a time bomb? Monthly exchange inflow flows dropped from $5.7 billion to $2.9 billion. That means the money is on-chain, but it isn’t flowing into exchanges. It’s being parked as defensive reserves, used as collateral, waiting for yield in DeFi, or held as cash equivalents for institutions—without taking risk.
In short: the infrastructure is ready, the supply is at record highs, but the “pump” hasn’t been filled. The real recovery signal would show up when there’s both a renewed acceleration in minting and a simultaneous increase in inflows to exchanges; high supply alone isn’t enough.
Do you think this flat period is calm before a new rally, or will capital continue to park itself cautiously for a while longer?
This post is not investment advice; it’s for informational purposes only.
Looking at the headline figures, everything seems fine, with total supply hovering at record levels between $310 and $323 billion. However, the growth rate has stalled; the market has been plateauing since October 2025, experiencing consolidation after the explosive growth of 2025.
Behind the scenes, there's a significant shift between the two giants. USDT has shrunk by approximately $3 billion on a quarterly basis for the first time since the second quarter of 2022, influenced by slowing retail demand and the headwinds in Europe. During the same period, USDC increased its market share and overtook USDC in trading volume, accounting for approximately 64% of combined volume by early 2026. In terms of market capitalization, USDT is still ahead at $184 billion, while USDC is around $79 billion, but USDC is clearly ahead in active use, especially in corporate transfers and payments.
The real question is, is this currency a powder keg? Monthly exchange deposit flows have dropped from $5.7 billion to $2.9 billion. This means the money is sitting on the blockchain, but not flowing into exchanges. It's parked as a defensive reserve, held as collateral, waiting for returns in DeFi, or as cash equivalent for institutions, without taking on risk.
In short, the infrastructure is ready, there's a record supply, but the pump hasn't filled up yet. The real recovery signal will come with an acceleration of new printing and a simultaneous increase in exchange inflows; high supply alone isn't enough.
Do you think this plateau is the calm before a new rally, or will capital continue to park cautiously for a while longer?
This post is not investment advice; it is for informational purposes only.