Stablecoin volume hits $1.79T in June, USDC leads

Stablecoin volume hit $1.79T in June, up 63% from May. USDC led with 67% share. Base and Ethereum topped network activity, driven by institutional demand and payments use.

Stablecoin transaction volume soared to a record $1.79 trillion in June, marking a 63% increase from May and a 125% year-over-year surge, according to data from Visa and on-chain analytics. USDC dominated the market, contributing approximately 67% of the total volume ($1.21 trillion), while USDT accounted for 32% ($576 billion) and PYUSD added $2.42 billion. Among networks, Base led with $565 billion in volume, closely followed by Ethereum at $562 billion and Tron at $320 billion. Notably, Circle minted $3.5 billion USDC on Solana in a single week, pushing total USDC issuance on Solana past $64 billion for 2026. The spike in stablecoin activity highlights their expanding role in payments, DeFi, and cross-border settlements, even as the broader crypto market remains subdued. Institutional demand continues to drive large-scale transactions and record usage, cementing stablecoins as critical financial infrastructure.