USDC Finally Beats USDT: Here’s How Solana and Trump Made It Happen
USDC surpassed USDT in annual transfer volume in 2025, driven by DeFi turnover, Solana's growth, the TRUMP memecoin, and regulatory clarity.Summary
For the first time, Circle's USDC has overtaken Tether's USDT in annual transaction volume, processing $18.3 trillion in 2025 compared to USDT's $13.2 trillion, according to Artemis Analytics, which filters out automated trading to measure organic activity.
This shift is attributed to four main factors. First, USDC dominates decentralized finance (DeFi) platforms due to its high turnover in lending and DEX swaps, whereas USDT is often held as a store of value. Second, the explosive growth of DeFi on the Solana blockchain, where USDC accounts for over 70% of stablecoins, provided a major engine for USDC inflows. Third, the launch of the TRUMP memecoin in January 2025, whose primary liquidity pool on Meteora DEX was paired with USDC, created an unexpected demand spike for USDC on Solana. Finally, regulatory tailwinds, specifically the US Genius Act and MiCA compliance in Europe, favored USDC due to Circle's established focus on transparency and compliance.
Overall, total stablecoin transaction volume reached $33 trillion in 2025, and projections suggest stablecoin payment flows could hit $56 trillion by 2030.
(Source：BeInCrypto)