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USDC has recorded the largest stablecoin supply increase of 2026, according to Artemis data. The chart shows a $4.5 billion net rise in USDC through March, while USDT posted a net decline of about $2 billion. The figures show a shift in stablecoin flows during the first part of the year.
Artemis tracks net supply change by measuring minting against redemptions. By that measure, USDC ranks first among the major stablecoins. Its $4.5 billion increase places it well ahead of all other tokens on the chart.
Other stablecoins also posted gains during the period. USDS, USD1, USYC, JTRSY, and PYUSD all moved higher, with growth ranging from hundreds of millions to over $1 billion. Even with those increases, USDC remained far ahead of the rest.
The data shows more than a rise in outstanding tokens. It points to strong demand for USDC as new capital moves into crypto markets. That demand has made Circle’s stablecoin the leading source of fresh on-chain dollar liquidity this year.
USDT recorded the largest negative change on the Artemis chart. Its supply fell by about $2 billion year-to-date, making it the biggest decline among the major stablecoins tracked in the data.
Other tokens with lower supply included USDai, USDFALCON, and M. Their changes were modest compared with USDT’s drop. The size of the USDT decline stands out because it comes from the largest stablecoin by total market supply.
The contrast between USDC and USDT is clear in the year-to-date figures. One token added $4.5 billion, while the other lost about $2 billion. That created a relative shift of roughly $6.5 billion between the two largest stablecoins in less than three months.
Net supply growth is widely used as a way to track fresh capital entering digital assets. When minting rises above redemptions, more fiat-linked funds are moving onto blockchains. Those funds often support trading, lending, payments, and liquidity pools.
USDC’s growth also matches broader usage trends seen this year. Market data cited in earlier coverage showed the token holding a large share of adjusted stablecoin transaction volume in 2026. That points to active circulation alongside the supply increase.
The chart also shows uneven growth across the sector. Several regulated and institution-focused stablecoins expanded, but USDC captured the largest share of new issuance. That has made it the main stablecoin for fresh inflows so far in 2026.
Also Read: USDC Supply Drops $600 Million as Market Liquidity Shifts
Circle’s position in regulated finance has kept USDC central to recent stablecoin discussions. The issuer has continued to align with US regulatory frameworks, public market plans, and institutional crypto access.
That approach has drawn attention as lawmakers and regulators continue work on stablecoin rules. Firms looking for regulated dollar-backed assets have increasingly focused on USDC, and the Artemis figures show that demand in supply terms.
