Stablecoin Transaction Volume Hits Record $1.79 Trillion in June
Summary
- June adjusted stablecoin transaction volume reached a record $1.79 trillion, up 63% from the previous month and 125% from a year earlier.
- In June, USDC accounted for about 67% of transaction volume at $1.21 trillion, far ahead of USDT at about 32%.
- The Base network ranked first with $565 billion in volume, and the launch of OpenUSD (OUSD) reinforced views that stablecoins are maturing into the foundational layer of the Web3 economy.
Forecast Trend Report by Period
Monthly stablecoin transaction volume rose to a record in June, an indication that usage continued to grow even as the broader cryptocurrency market remained weak.
Cointelegraph reported on July 6 that adjusted stablecoin transaction volume totaled $1.79 trillion in June, according to global payments company Visa's stablecoin analytics dashboard. That was up 63% from $1.1 trillion in May and 125% from a year earlier. It also edged past the previous record of $1.78 trillion set in February 2026.
"June 2026 was another month that set an all-time high for stablecoin transaction volume after February," Zach Pandl, head of research at Grayscale, said.
Circle's USDC overwhelmingly led by transaction volume. Visa data showed USDC accounted for $1.21 trillion in June, or about 67% of the total. Tether's USDT, the largest stablecoin by market capitalization, made up $576 billion, or about 32%. PayPal's PYUSD ranked third at $2.42 billion.
By network, Coinbase's Ethereum layer-2 network Base ranked first with $565 billion, or 31.5% of the total. Ethereum followed closely at $562 billion, and Tron was third at $320 billion.
Separately, Open Standard recently joined the market with the launch of its new stablecoin, OpenUSD, or OUSD, backed by more than 140 companies including Visa and Mastercard.
Nick Ruck, research director at LVRG Research, said the jump in volume shows stablecoins are becoming core infrastructure for value transfers, liquidity provision and decentralized finance activity, regardless of speculative price swings. He added that stablecoins are maturing into the foundational layer of the Web3 economy.
