USDC Surpasses USDT in 2026: Mizuho’s Bold Move

with paragraphs, a heading, and a list. Avoid using

tags, so any inline elements need to be handled differently. Since the user said not to use

, but the original has links with classes, I’ll keep them as they are.

In the body, rephrase sentences with Nabokov’s flair. For example, instead of “overtaken”, use “supplanted” or “dethroned”. Use more elaborate descriptions. Maybe compare the transaction volumes to something whimsical, like “a dance of digital coins”.

The FAQ section can be made more sarcastic. For instance, “What is adjusted stablecoin transaction volume?” could be rephrased with a witty remark about the complexity of the metric.

Ensure that the title is unique and not repeated in the body. Check the character count for the title. “USDC Surpasses USDT in 2026: Mizuho’s Bold Move” is 57 characters, which is under 100.

Finally, verify that all links are preserved, no

tags, and the HTML structure is correct. Add some Nabokov-esque humor, like referring to the adjusted volume as “a ballet of numbers” or “the art of financial sleight of hand”.

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USDC Surpasses USDT in 2026: Mizuho’s Bold Move

Circle’s USDC, that paragon of fiscal virtue, has supplanted Tether’s USDT in the realm of adjusted stablecoin transaction volume, a development as surprising as a well-dressed man at a masquerade ball.

A March 13 research note from Mizuho Securities, penned by Dan Dolev and Alexander Jenkins, revealed that USDC has processed a staggering $2.2 trillion in adjusted transaction volume this year, while USDT lags behind with a mere $1.3 trillion. This marks a reversal of fortunes, akin to a moth abandoning a flame for a more luminous wick. Circle’s stablecoin now commands 64% of the adjusted stablecoin realm, a feat that would make even the most jaded economist blush.

Such a triumph prompted Mizuho to elevate its price target for Circle (NYSE: CRCL) to $120, a move as audacious as a poet reciting sonnets in a stockbroker’s office. Shares of Circle, currently trading near $115.40, have ascended with the grace of a well-timed pirouette since February. The “adjusted” volume metric, a clever sleight of hand, purges the fluff of wash trading and bot traffic, leaving only the glint of genuine economic activity-though one might argue it’s merely the same old game, dressed in new finery.

The measure, however, focuses on transactions that mimic real-world economic movement, such as those tied to decentralized finance or the arcane rituals of prediction markets. Despite USDC’s recent triumph, USDT still holds the crown in market capitalization, a relic of bygone eras with $183-184 billion in circulation. Analysts, ever the sycophants of progress, posit that the long-term battle will hinge on which token becomes the preferred medium for digital payments-a contest as predictable as a sunrise over a cryptocurrency exchange.

FAQ 🔎

What is adjusted stablecoin transaction volume?
A meticulous exercise in removing the chaff of exchange churn, bots, and wash trading, leaving behind the kernel of “genuine” economic activity-though one might question whether the kernel is merely a larger pile of chaff.
How much adjusted volume has USDC recorded in 2026?
Analysts estimate $2.2 trillion year-to-date, a figure so grand it could fund a small nation’s infrastructure for a decade. USDT, in contrast, manages a paltry $1.3 trillion.
Does USDC now dominate the stablecoin market overall?
No, USDT still reigns with $183-184 billion in circulation, a testament to the enduring power of brand recognition-though one might argue it’s more about the allure of a well-timed scandal.
Why is this volume shift important?
Analysts claim it signals real-world usage in payments and decentralized finance, a notion as thrilling as watching a toddler assemble a Rubik’s Cube. Yet, the true significance lies in the narrative: USDC, the underdog, has finally taken the stage.

2026-03-14 00:27

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