Tether Remains Dominant Stablecoin Despite Rising Competition

Tether Remains Dominant Stablecoin Despite Rising Competition CryptoProwl Wed, August 19, 2026 at 9:50 AM EDT 1 min read USDT-USD USDC-USD CRCL DX-Y.NYB Tether's USDT (CRYPTO: $USDT) remains the world's dominant stablecoin despite rising competition in the digital asset space. Data from NOWPayments shows that USDT continues to be the dominant stablecoin by business transaction volumes. However, that same data shows that Circle Internet Group's (NYSE: $CRCL) USDC (CRYPTO: $USDC) stablecoin is gaining momentum. More From Cryptoprowl: MEXC July TradFi Trading Shifts Toward AI Storage as SNDK Futures Volume Surges More Than 15x Times Polymarket Hires Former Uber Executive To Lead Growth Initiative Hyperliquid Turns to CFTC for Path Into U.S. Perpetual Futures Market Canadian Defense Tech Firm Jumps 92% as Government Revenue Boosts Margins MEXC's August 2026 Proof of Reserves Confirms User Assets Fully Backed as Reserve Ratios Remain Above 100% In the first half of this year, USDC transactions increased 209% year-over-year and transaction volume rose 101%. Tether's USDT transaction activity declined over the same period of time, though it remains the market leader. Stablecoins are cryptocurrencies whose value is pegged to another asset, typically the U.S. dollar. NOWPayments, a crypto payment firm, said that Tether's USDT continues to offer the scale and liquidity businesses rely on, but that Circle's USDC is emerging as a popular alternative. The report also says that businesses …