USDC added approximately $584M to its market cap over a single week, accounting for the bulk of a combined $1B increase shared with USDe and PYUSD. Total stablecoin supply now stands between $303B and $310B, with USDC representing $74B to $77B, or roughly 24% of the market, while Tether’s USDT maintains its dominant position at approximately $184B, holding around 60% market share. Despite a smaller market cap than its rival, USDC captured between 60% and 70% of adjusted on-chain transaction volume across multiple periods in 2026, demonstrating intensive blockchain usage.
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