$USDC just moved $3.6T on-chain in July. That's 69% of the entire $5.2T stablecoin volume.
$USDT? Only $1.4T despite way more txs.
The gap isn't random. $USDC is eating institutional flow—MiCA compliant in EU, Visa/Mastercard rails live. Institutions don't touch unregulated stables.
If you're betting on stablecoin infrastructure plays, follow the institutional money. $USDC is the backbone now.
$USDT? Only $1.4T despite way more txs.
The gap isn't random. $USDC is eating institutional flow—MiCA compliant in EU, Visa/Mastercard rails live. Institutions don't touch unregulated stables.
If you're betting on stablecoin infrastructure plays, follow the institutional money. $USDC is the backbone now.