New H1 2026 user data from Changelly points to a crypto market where stablecoin adoption isn’t a single, steadily rising trend, but a split among three distinct user behaviors.
Instead of everyone gradually warming up to stablecoins, the data suggests people are settling into distinct, largely fixed habits around how—or whether—they use them at all.
Three Camps, Not a Spectrum
The analysis breaks users into three groups based on how often stablecoins show up in their activity. Close to half of all users never touch a stablecoin at all, while at the opposite extreme, 45% rely on stablecoins for nearly every trade they make. That leaves a smaller middle group—roughly 15% of users—who move back and forth between stablecoins and other crypto assets on a regular basis.
This middle group, despite being the smallest, turns out to be the most active by far: Mixed-asset traders complete up to 6.2 times more transactions than users who skip stablecoins entirely. The heavy stablecoin users show the reverse pattern—fewer trades overall, but each one running up to 2.5 times larger than the platform’s average transaction size.
“Our data shows there is no longer a single type of ‘stablecoin user.’ Instead, we’ve identified distinct behavioral patterns that vary by user type, transaction size, and region.” —Daria Morgen, Head of Research at Changelly
One in Five Transactions, But Half the Volume
On Changelly, stablecoins show up in less than one in five transactions—yet they account for close to half of all trading volume on the platform.
The reason for this isn’t frequency—it’s size. Stablecoin trades run 4.2 times larger, on average, than trades that don’t involve a stablecoin at all.
USDT dominates this activity, making up nearly 14% of transactions and driving more than 40% of total volume. USDC trails well behind, contributing just over 4% of transactions and about 7% of volume, with every other stablecoin registering only marginal usage.
The role stablecoins play extends beyond raw volume, too: They show up in 31% of Changelly’s ten most-traded swap pairs, a sign that they’ve become a routine part of how people trade rather than a side asset reserved for specific use cases.
Read more: The 6 Best Stablecoins to Survive Crypto Winter
Making Stablecoin Movement Easier
Given that stablecoins already factor into nearly a third of Changelly’s most popular trading pairs, being able to move them smoothly across chains and assets matters now more than ever.
To support this, Changelly provides competitive rates on stablecoin swaps, including 1:1 pricing on cross-chain exchanges, giving users an efficient way to shift stablecoins between networks.
Read more: Types of Stablecoins
Methodology
The findings draw on anonymized, aggregated Changelly transaction data from H1 2026, spanning crypto-to-crypto swaps on both web and mobile. User segments were built based on how large a share of each user’s activity involved stablecoins. The analysis looked at transaction behavior, volume, asset preferences, and regional usage trends.
Disclaimer: Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.