USDT reaches 35% market share by July 2026

TradingView seasonal data shows USDT’s share of market activity at 35.1% by July 2026, compared with 29.0% in July 2021. Usage declined in 2024 before recovering to the current level.

Market participants report that traders and institutions are using Tether more often for transactions rather than only as a speculative hedge. Participants point to defensive investor positioning and growing use in payments and corporate treasury operations.

On-chain activity has risen across multiple networks. CryptoQuant data indicates daily active addresses interacting with ERC-20 stablecoins have ranged between about 400,000 and 700,000 since 2025, reflecting more frequent routine use of these tokens.

Payment firms and merchant processors have broadened stablecoin settlement options. Major global payments companies have integrated stablecoin rails into their cross-border offerings, and corporate treasuries are testing stablecoins for cross-border transfers and short-term liquidity management.

The broader stablecoin market is about $312 billion. Institutional investors have not allocated sizeable holdings into Bitcoin or Ethereum during this period, and many corporate users emphasize predictable value and operational efficiencies in settlement.

Observed trends include higher routine transaction volumes involving stablecoins and increased corporate experimentation with on-chain settlement. Data points and participant statements indicate stablecoins are being used more for payments and liquidity tasks alongside traditional trading uses.