U.S. Dollar Tether (USDT), the biggest stablecoin by market cap, is utilized for 80% of all payments in stablecoins. While the segment is growing by 100% every six months, it is still a tiny fraction of what is transferred via Visa and Mastercard, a new report says.
USDT on fire: 80% stablecoin market milestone hit
U.S. Dollar Tether (USDT), the largest stablecoin by market capitalization and most popular asset of this class in the world, reached a new usage high. USDT just hit 80% market share by volume, a new report by an Artemis analyst says.
USDT is 80% of stablecoin payments đ„Thanks everyone â„ïž https://t.co/jkSObOoWKu
â Paolo Ardoino đ€ (@paoloardoino) May 29, 2025
According to a document named Stablecoin Payments from the Ground Up, in just two years, average monthly stablecoin usage (net USD-denominated value transferred) surged by 215% from $2 billion to over $6.3 billion.
While Tether (USDT) has always remained the most popular asset here, USDC by Circle is the second best alternative.
In terms of blockchains utilized for stablecoin transfers, Tron (TRX) is an undisputed leader, followed by Ethereum (ETH), Binance Smart Chain (BSC) and Polygon (MATIC).
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As covered by U.Today previously, in May 2025, the Tron-based version of USDT exceeded Ethereum's for the first time ever.
Stablecoin vertical rocketing, but we're still early
Also, in terms of net number of coins issued, Tron-based USDT is bigger than all other versions combined. Solana (SOL) and Ton (TON) versions are lagging behind.
Meanwhile, the report's authors highlight that the journey has barely started for stablecoins as a way of value transfer despite already being popular in emerging and developed economies:
There is still so much room to grow - with B2B estimates from Visa at $145T. Stablecoin B2B payments at $3bn is still just a fraction.
In this cycle, Tether (USDT) is aggressively increasing the USDT supply, which can be interpreted as a bullish signal for the Bitcoin (BTC) price.
