<ul data-eligibleForWebStory="false"><li>USDC's share of stablecoin transactions is slipping, while USDT is gaining ground and leading in volume.</li><li>BitPay data shows USDC's share dropped from 85% to 56%, with USDT surging to 43% by May 2025.</li><li>Despite USDC's strong regulatory positioning and recent public listing, USDT has taken the lead in transaction volume on BitPay.</li><li>Tether's growing adoption on payment platforms suggests that the competition between USDT and USDC is ongoing, with USDT remaining the largest stablecoin by overall valuation.</li></ul>

USDT Gains Ground on BitPay as USDC Loses Lead

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