Dune Analysis: Stablecoin Divergence Intensifies, USDT Outperforms in Payments, USDC Leads DeFi

According to a report by Cointelegraph, citing the latest data from Dune Analytics, USDT completed approximately $95 billion in goods payment settlements in the first half of 2026, far exceeding USDC's $14 billion; in the business-to-business (B2B) payment sector, USDT accounted for a staggering 92%. On Tron, USDT's largest network, approximately 93% of the token supply is held in regular wallets. In contrast, USDC has a significant advantage in the DeFi field, with approximately $2.6 trillion in transactions processed on the Base network and approximately $1.6 trillion on the Ethereum network in June. Currently, USDT and USDC together account for 83% of the entire stablecoin market capitalization of approximately $315 billion.