Ethereum is losing ownership of crypto payments as Base moves $565B in stablecoins
Visa's adjusted June data shows L2s competing for the dollar flows that could define crypto payments. The post Ethereum is losing ownership of crypto payments as Base moves $565B in stablecoins appeared first on CryptoSlate....
Key takeaways
- 1Base processed $565 billion in adjusted stablecoin volume in June 2026, narrowly surpassing Ethereum's $562 billion.
- 2Total adjusted stablecoin volume reached $1.79 trillion in June, with USDC dominating at 67% market share.
- 3Layer-2 networks optimized for cheaper, faster payments are capturing stablecoin activity from Ethereum mainnet.
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Why it matters
This shift reveals that crypto payment infrastructure competition is moving away from Ethereum toward cheaper L2 solutions, reshaping which blockchain networks control tokenized dollar flows. For Indian investors, this signals growing competition in the payments infrastructure space and validates Layer-2 scaling as critical for mainstream adoption of stablecoins.
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