Stablecoin transfers hit $10.5 trillion in January, driven by USDC and USDT, with significant activity on DEX platforms.
In January, stablecoin transfer volumes soared to over $10.5 trillion, the highest since April 2022, as reported by Dune data.
Leading the transactions was the USDC stablecoin from Circle, which accounted for $8.3 trillion. Tether's USDT followed with $1.7 trillion, while DAI rounded out the top three with $138 billion.
February's preliminary figures indicate stablecoin transactions reached $7.8 trillion, with USDC, USDT, and DAI continuing to dominate.
Notably, the L2 solution Base emerged as the most active platform in January, processing transfers worth $5.9 trillion. Ethereum and Tron recorded $2.5 trillion and $691 billion, respectively.
Stablecoins were predominantly utilized in decentralized exchange (DEX) liquidity pools, totaling $5.9 trillion, compared to $612 billion in centralized exchanges (CEX).
USDT remains the top stablecoin, commanding over 59% of the market share and a capitalization of $183.5 billion, within a total market valued at $311 billion.
USDC holds a 24.3% market share with a valuation of $75.3 billion.
On February 25, Tether announced its acquisition of a $200 million stake in the online marketplace Whop, which is integrating a wallet development kit for USDT and USAT transactions. Additionally, Tether invested in LayerZero Labs and the Dreamcash application in January.
October 29, 2026
October 29, 2026
October 29, 2026
October 29, 2026