Issuer share over time
USDT vs USDC vs others as a share of total supply.
About this data
USDT has held a majority share through the cycle, with USDC the main challenger and everything else a small remainder. The normalized (100%) view isolates share dynamics from absolute growth — useful for seeing whether USDC is actually closing the gap.
USDT vs USDC vs others as a share of total supply.
View data & sources →Data table
Methodology & sources
Last updated: Jul 17, 2026Methodology
Source-backed values are seeded for all five charts: stablecoin market cap by issuer (2024 → 2026), issuer share over time, annual transfer volume vs card networks, the GENIUS Act compliance timeline, and reserve composition by issuer. Every numeric point carries a sources[].ref and a value_basis. Totals are from DefiLlama and CoinGecko; per-issuer figures from issuer data, with the "others" bucket by deduction (labeled). Reserve splits are from Tether’s BDO attestation and Circle’s reserve disclosures. CAVEAT: 2024 transfer volume (~$27.6T) exceeds Visa+Mastercard, but ~70% of stablecoin volume is bot/exchange activity rather than organic payments — noted on the chart’s value_basis. The GENIUS timeline is shown as days from 2026-06-16; each milestone’s absolute date is in its value_basis. Re-verified 2026-06-15.
Sources
- DefiLlama — Stablecoins ↗ Open access
- CoinGecko — State of Stablecoins ↗ Public report
Comparisons are informative, not definitive. See each source for definitions and limits.