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CryptoMediumUpdated×2•Originally published 3 April 2026•Updated 5 April 2026•

1 min read

USDC Overtakes Tether in Market Share Amid $2 Billion Supply Surge

Key Facts

1Circle's USDC added approximately $2 billion in supply during the first quarter of 2026.

2 months ago

Version History

8 additional sources confirmed this story

Version 22 months ago

What changed: Updated to reflect that USDC has overtaken Tether (USDT) in market dominance following a significant decline in USDT's supply and share.

Version 12 months ago

What changed: Updated the story to include strong on-chain inflows into Ethereum and a bullish Q2 price forecast based on a identified key flow divergence.

Circle's USDC added approximately $2 billion to its circulating supply during the first quarter of 2026, pushing the total stablecoin market capitalization to a milestone of $315 billion. In a historic shift, reports indicate that USDC has now overtaken Tether (USDT) in terms of market dominance, as USDT experienced a significant decline in both market share and circulating supply. This transition reflects a decisive institutional pivot toward regulated assets, moving beyond the previously observed growth divergence. On-chain data reveals robust inflows for Ethereum, signaling that this newly dominant liquidity is being deployed into major digital assets. Analysts view the 'key divergence' in these flows as a bullish indicator, supporting forecasts for an Ethereum price rally during the second quarter. The movement of institutional 'dry powder' highlights the impact of regulatory frameworks like the CLARITY Act on market structure.