USDC Steers the Stablecoin Highway While Tether Takes the Scenic Route

ERC‑20 stablecoin activity is on a growth spurt. Active addresses have vaulted from roughly 85 000 in March 2025 to almost 600 000 in March 2026 – a 600 % jump that’s been climbing steadily since 2024. This isn’t a flash‑in‑the‑pan meme rally; it’s a structural upgrade turning stablecoins into the everyday plumbing for payments, settlements and cross‑border transfers, not just the garnish on DeFi trade pairs.

With more users tapping these tokens, liquidity is getting both slicker and more jittery around demand cycles. The market’s darling is now USD Coin (USDC), which has pumped $4.5 billion of supply into the system this year – the biggest gain among all tracked assets. Meanwhile, Tether (USDT) is shedding about $2 billion, a clear sign of capital outflow and a tilt toward assets that wear