Stablecoins dominated crypto trading in Q1 as investors sought safety, while rising bot usage and declining retail flows pointed to shifting market dynamics.
- Stablecoin supply reached $315 billion in Q1 2026, the highest on record.
- Stablecoins accounted for 75% of total crypto trading volume, the highest level on record.
- Total stablecoin transaction volume topped $28 trillion, surpassing major payment networks like Visa and Mastercard combined.
- Retail-sized transfers declined by 16%, the steepest drop on record, while bot-driven transactions surged to 76% of all volume.
- Circle’s USDC supply increased by $2 billion, while Tether’s USDT supply decreased by $3 billion.
- The yield-bearing stablecoin market is valued at $3.7 billion, with daily trading volumes exceeding $100 million.
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