Dollar-pegged tokens now drive the bulk of the nearly $1 billion moving through WalletConnect each day
Stablecoins make up more than 80% of the nearly $1 billion in daily volume flowing through WalletConnect.
WalletConnect is a connectivity network that links crypto wallets to apps across blockchains. That makes it a useful window into what people are actually doing on-chain.
What they are doing, increasingly, is moving stablecoins.
The numbers behind the stablecoin surge
The detailed picture comes from WalletConnect’s first-half 2026 figures. Total network volume for the period reached $207.82 billion.
Of that, $171.35 billion was stablecoin activity. That works out to 82.5% of everything moving across the network.
The share did not sit still during those six months. Stablecoins accounted for 74% of volume in January, then climbed steadily before peaking at 88% in May.
The network logged approximately 19.08 million on-chain transactions over the half-year.
Ethereum dominated the chain breakdown. The network carried approximately $159.8 billion in stablecoin volume, or 93% of the stablecoin total.
Arbitrum, Solana and BNB Chain followed, though at a considerable distance.
The assets carrying the load included USDC, USDT and USDG, alongside ETH and WETH, across chains such as Arbitrum, BNB Chain and Ethereum.
Building the payment rails
The momentum carried into the third quarter of 2026, when WalletConnect recorded approximately $100 billion in network volume.
For a longer view, the network’s full-year 2025 volume exceeded $400 billion. Daily averages that year ran around $1.25 billion, and the first half of 2026 pointed to similar continued activity.
WalletConnect has also been developing merchant tools with Ingenico and Ezeebit, a move aimed squarely at the checkout counter rather than the trading desk.
CEO Jess Houlgrave has pointed to a marked increase in adoption from both institutional and retail users.
The network’s reach gives those figures some weight. WalletConnect supports more than 900 million users through over 700 wallets and more than 80,000 applications across all major blockchains.
WalletConnect added support for TRON and Stellar, two chains with established reputations for moving stablecoins.
What this means for crypto payments
Stablecoins accounted for 82.5% of WalletConnect’s H1 2026 volume. When more than four out of every five dollars on a network are dollar-pegged tokens, the network is functioning as payment infrastructure.
For blockchains, the chain breakdown is a reminder that Ethereum’s grip on stablecoin settlement remains firm, at least on this network. Arbitrum, Solana and BNB Chain are carving out shares, yet a 93% concentration on a single chain shows how much ground the alternatives still have to cover.
Concentration cuts both ways. If stablecoins are the dominant use case, then regulatory developments around stablecoin issuers and reserves become directly relevant to networks like WalletConnect.
Partnerships with Ingenico and Ezeebit suggest WalletConnect is betting that stablecoin payments will extend beyond crypto-native users into everyday commerce.
