According to CoinMeta, despite intensified competition, Tether's USDT remains the globally dominant stablecoin. Data from NowPayments shows that USDT continues to maintain a leading position in terms of commercial transaction volume. However, the same data indicates that Circle Internet Group's USDC is gaining momentum. In the first half of this year, USDC's transaction volume increased by 209% year-on-year, with transaction amounts rising by 101%. Although USDT's trading activity declined during the same period, it still remains the market leader. NowPayments believes that stablecoins are gradually becoming an important part of commercial infrastructure, rather than just another payment option.