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Stablecoins Capture 83% of USD Crypto Spot Trading Volume as Fiat Pairs Fade, Kaiko Finds

By bitcoin.com
Mar 25, 2026
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Stablecoins Cement Role as Primary Settlement Layer in Crypto
Image source: Kaiko
FAQ What percentage of crypto spot trading uses stablecoins? Stablecoins account for about 83% of USD-denominated spot trading volume as of March 2026. Why are stablecoins replacing fiat USD pairs?They offer faster settlement, deeper liquidity, and 24/7 access without relying on traditional banking systems. Which stablecoins dominate trading activity? USDT leads by a wide margin, with USDC serving as the second-largest contributor. Do fiat USD trading pairs still exist?Yes, but they now represent a smaller share of activity, mainly on regulated U.S. exchanges.
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