June stablecoin transactions hit $1.79 trillion record

In June, stablecoin transaction volume reached a new high of $1.79 trillion, a 63 % rise from May and surpassing the previous record of $1.78 trillion set in February. USDC accounted for roughly 67 % of the total volume (about $1.21 trillion), while USDT handled about 32 % ($576 billion). The three leading blockchains were Coinbase’s Base network ($565 billion), Ethereum ($562 billion) and Tron ($320 billion, an 18 % share). Tron hosts the largest supply of USDT—over $86 billion—making it the preferred rail for low‑fee, fast USDT transfers, especially in emerging markets.

USDT dominates payment use cases, processing the bulk of B2B transfers and serving as a reserve of value for cross‑border commerce. USDC, by contrast, leads in DeFi, with high on‑chain velocity, notably on Base where a single USDC unit is reused about twenty times per day. Meanwhile, stablecoin supply has begun to shrink; inflows to exchanges fell 31 % year‑over‑year, a trend that analysts say is dampening Bitcoin’s price recovery.