Stablecoin deposits in DeFi hit $24B, up 560.8% in three years

Token Terminal data shows USDC holding the largest share as users park dollar-pegged tokens in lending protocols for yield Stablecoin holders have found a new hobby: putting their digital dollars to work. According to data released by Token Terminal on October 25, 2026, total stablecoin deposits into decentralized finance (DeFi) protocols have reached $24 billion . The growth points to a clear shift in behavior. Users are no longer just holding stablecoins as a parking spot between trades. They are increasingly depositing them into DeFi protocols to earn yield. Not all stablecoins are pulling equal weight. USDC leads the pack with a 38.2% share of DeFi deposits, which works out to around $9.2 billion. Tether (USDT) comes in second with approximately $4.9 billion, or 20.3% of the total.

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