August 4, 2026 — Changelly, a leading instant cryptocurrency exchange, has published new research examining stablecoin usage across its platform during the first half of 2026. Based on anonymized transaction data, the analysis suggests crypto users are increasingly adopting distinct behavioral patterns around stablecoins rather than following a single investment approach.
The report identifies three primary user segments with markedly different trading habits, transaction sizes, and asset preferences, indicating that stablecoins are serving different roles across the crypto ecosystem.
There is no longer one type of stablecoin user
Instead of gradually increasing stablecoin usage, Changelly’s analysis reveals three distinct behavioral patterns among crypto users. The largest group, representing nearly half of all users, has never interacted with stablecoins, while up to 45% rely on them for almost every transaction. Only around 15% regularly move between stablecoins and other crypto assets.
Despite being the smallest segment, these mixed-asset users generated the highest platform activity, completing up to 6.2 times more transactions than users without stablecoin activity. Changelly’s stablecoin-heavy users followed the opposite pattern, executing fewer transactions but recording average transaction sizes up to 2.5x larger than the platform baseline.
“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. Nearly half the volume
Stablecoins make up fewer than one in five transactions on Changelly, yet account for nearly half of all trading volume.
This difference is driven by transaction size rather than frequency. On average, stablecoin transactions were 4.2x larger than transactions that didn’t involve stablecoins.
Stablecoin activity on Changelly remains heavily concentrated around USDT, which accounts for nearly 14% of all transactions and more than 40% of total trading volume. USDC follows with just over 4% of transactions and around 7% of volume, while other stablecoins represent a negligible share.
Stablecoins are also becoming increasingly embedded in trading behavior. They appeared in 31% of Changelly’s ten most popular swap pairs, underscoring their role as a core component of everyday crypto trading, not just as a niche asset class.
Turning stablecoin usage into a simpler experience
With stablecoins appearing in 31% of Changelly’s top swap pairs, seamless movement between assets and networks has become increasingly important.
Changelly offers competitive exchange rates for stablecoin swaps, including 1:1 rates on supported cross-chain exchanges, allowing users to move stablecoins between networks more efficiently.
Methodology
The research is based on anonymized and aggregated Changelly transaction data from H1 2026, covering crypto-to-crypto swaps across web and mobile platforms. Stablecoin users were segmented based on the share of stablecoin-related transactions within their overall activity. The analysis includes transaction behavior, trading volume, asset preferences and regional usage patterns.
About Changelly
Changelly is an instant crypto exchange trusted by over 12 million users worldwide. Founded in 2015, the platform offers secure, intuitive crypto-to-crypto swaps across over 1,200 cryptocurrencies, along with 24/7 live customer support. Changelly also features a built-in smart fiat on-ramp aggregator, giving users access to up to 220 competitive offers from verified providers and enabling seamless purchases of 350+ cryptocurrencies with 20+ global payment methods.
Changelly is available on desktop, iOS, and Android.
