Tether moves roughly $76 billion every day as of early 2026, more than the GDP of many countries. And it’s not alone – many stablecoins like USDC and DAI and newcomers like Ethena USDe have become pillars of the crypto ecosystem.
Stablecoins play a key role in crypto: They offer price stability, cross-border transactions at speed, and, for some, fiat-backed confidence. For crypto investors, choosing the right stablecoin can impact yield farming, trading, and transaction fees.
To get started in crypto, you’ll need access to the best crypto exchanges that support major stablecoins and offer tools for trading and storing your assets securely.
Editor's note: Numbers reflect trading volumes, market cap, and other metrics as of April 1, 2026.
The largest and most popular stablecoins in 2026
The table below shows the largest stablecoins by market capitalization as well as their daily volume and circulating supply as of April 1, 2026.
Rank | Stablecoin | Market Cap | Daily volume | Circulating supply |
|---|---|---|---|---|
1 | Tether (USDT) | $184,174,300,321 | $76,318,442,201 | 184.22B USDT |
2 | USDC (USDC) | $77,268,563,904 | $11,764,526,036 | 77.28B USDC |
3 | Ethena USDe (USDe) | $5,879,306,958 | $242,757,841 | 5.88B USDe |
4 | Dai (DAI) | $5,364,091,070 | $320,931,166 | 5.36B DAI |
5 | World Liberty Financial USD (USD1) | $4,384,437,551 | $1,057,244,455 | 4.38B USD1 |
6 | PayPal USD (PYUSD) | $3,965,551,159 | $165,455,575 | 3.96B PYUSD |
7 | Global Dollar (USDG) | $1,842,276,876 | $49,831,613 | 1.84B USDG |
8 | Falcon USD (USDf) | $1,630,929,638 | $1,088,506 | 1.63B USDf |
9 | USDD (USDD) | $1,543,011,259 | $5,743,207 | 1.54B USDD |
10 | Ripple USD (RLUSD) | $1,387,394,640 | $361,164,473 | 1.38B RLUSD |
1. Tether
Market cap: $184,174,300,321 | Volume: $76,318,442,201 | Circulating supply: 184.22B USDT
Tether (USDT +0.02%) is the original stablecoin. Launched in 2014, it still dominates the crypto ecosystem in 2026 with a $184 billion market cap, more than 2 times the size of second-place USDC. Tether’s daily trading volume is more than $75 billion, which reflects unmatched usage in trading and settling despite periodic controversies over reserves and transparency.
2. USDC
Market cap: $77,268,563,904 | Volume: $11,764,526,036 | Circulating supply: 77.28B USDC
USD Coin (USDC -0.00%), issued by Circle and built on Ethereum, is the second-largest stablecoin by market cap and daily volume. USDC has focused on integration into the traditional financial system. It can be used to settle transactions in Visa’s (V +0.69%) network, and its issuing company, Circle, went public on the New York Stock Exchange in June 2025.
3. Ethena
Market cap: $5,879,306,958 | Volume: $242,757,841 | Circulating supply: 5.88B USDe
Ethena USDe (USDE +0.03%) is the third-largest stablecoin by market cap. It uses Ethereum-based financial tools rather than fiat currency reserves to maintain its peg. Ethena is another stablecoin that’s popular in the DeFi space, in part due to its efficiency.
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