USDC overtakes USDT in 2025 transfer volume driven by Solana growth

Beincrypto reports that Circle’s USDC processed $18.3 trillion in transfers in 2025, surpassing Tether’s USDT which processed $13.2 trillion and marking the first time USDC has overtaken USDT in annual transaction volume.

According to Artemis Analytics, the $18.3 trillion versus $13.2 trillion result represents a 39% gap after filtering out MEV bot transactions and intra-exchange transfers to isolate “organic” on-chain activity. USDT still commanded a $187 billion market cap—nearly 2.5 times USDC’s $75 billion—but USDC’s role in DeFi and on Solana proved decisive: USDC now makes up over 70% of stablecoins on Solana, and Solana’s stablecoin supply rose from $5.2 billion to $11.7 billion in Q1 2025, a 125% increase driven mainly by USDC inflows. The January 2025 TRUMP memecoin launch also boosted USDC because its primary liquidity pool on the Meteora DEX was paired with USDC, and observers cited the July passage of the Genius Act and USDC’s regulatory and reserve transparency—plus MiCA compliance in Europe—as tailwinds.

The USDC surge helped drive record stablecoin activity: total transaction volume reached $33 trillion in 2025, up 72% year over year, with Q4 flows of $11 trillion versus $8.8 trillion in Q3. Bloomberg Intelligence projects stablecoin payment flows could reach $56 trillion by 2030, positioning the sector as a major global payment rail alongside traditional networks.

Key Topics

Crypto, Usdc, Usdt, Solana, Circle, Trump Token