Stablecoin Marketcap
- According to the Bank for International Settlements, the size of the global stablecoin market is approximately $255 billion as of June 2025, with nearly 99% of stablecoins pegged to the US dollars.
- The total market value of stablecoins surged from $20 billion in 2020 to $246 billion in May 2025, according to analysts at Deutsche Bank.
- According to CoinDesk data, the market capitalization of stablecoins hit an all-time high of $251.7 billion, up 22% so far in 2025.
- The stablecoin market is projected to reach $500 billion by 2028, reflecting accelerating expansion.
- USDT grew from $78B in 2021 to $157.6B by mid-2025, while USDC rose from $42.4B to $61.7B. Combined market cap increased from $120.4B to $219.3B, showing an 82% growth, primarily driven by USDT capitalization growth.
Stablecoin Supply
- As of Q3 2025, the total stablecoin supply surged past $300 billion, marking an 18% quarterly rise and a $45 billion increase. Transaction volumes reached a record $15.6 trillion in Q3 alone, underscoring their centrality in trading, remittances, and treasury functions. Reflecting a 47% year-to-date increase and a 6.38% rise over the past month, according to data from DefiLlama and CoinMarketCap.
- 84% of Q3 2025 new stablecoin supply came from USDT, USDC, and USDe combined.
- 19 new stablecoins were launched globally in Q1 and Q2 2025 alone.
- The number of active stablecoins nearly doubled from 136 at the start of 2024 to 259 by June 2025.
Breaking down by Types of Stablecoin
USDT
- As of late November 2025, USDT holds about 60% of the stablecoin market while USDC captures roughly 25%.
- USDT market cap expanded 25% from $140B to $175 billion through Q3 2025.
- USDT’s supply increased by 9.2% in the first half of 2025, driven largely by demand in Asia and Africa.
- USDT’s circulating supply is approximately $112 billion, representing around 68% of total stablecoin capitalization as of mid-2025.
USDC
- USDC market cap rose from $53.3 billion in January to $73.4B by September 2025.
- USDC circulation grew 78% year-over-year, outpacing other major stablecoins in 2025.
- USDC holds a 24.3% market share in Q1 2025 with a $64 billion market cap and growing institutional support.
- USDC remains the #2 stablecoin by market cap, with estimates around $70-75 billion mid-2025.
- USDC’s market cap dipped 2.71% to $73.5 billion in late November amid a stablecoin market decline.
Ripple USD (RLUSD)
- The Ripple USD (RLUSD) stablecoin’s circulating supply rose by ~47% in June 2025, jumping to approximately $455 million.
- By November 2025, there were 38,166 RLUSD holders recorded on public data.
- Year-to-date growth in market cap, RLUSD’s increase of ~1,278% by November 2025.
- In the broader stablecoin category, RLUSD is currently ranked #14 as of November 2025.
- By late 2025, RLUSD entered the top 10 USD stablecoins by market cap, reflecting its strengthened competitive position.
- Ripple Prime’s launch, supported by a $1.25 billion acquisition of Hidden Road, advances RLUSD’s institutional adoption.
Others
- Reserve Protocol (RSV) maintains a supply of around $500 million, driven by continued adoption in Latin America.
- Ethena USDe has emerged as a top contender, with a market cap of over $13 billion in mid-2025.
- DAI (MakerDAO) holds a smaller share comparatively, around $5-7 billion, depending on whether counting total supply or circulating adjusted value.
Fiat-backed Stablecoins vs Algorithmic Stablecoins
- Roughly 95%+ of major fiat-backed stablecoins are pegged to the U.S. dollar, reinforcing dollar reserve dominance in 2025.
- As of early 2025, fiat-backed stablecoins still account for the vast majority of supply, over 90% of the market.
- As of early 2025, all crypto-backed stablecoins combined have a market cap of approximately $19 billion, a small but significant share of the broader stablecoin market.
- Beyond traditional dollar-pegged assets, tokenized asset-backed stablecoins backed by commodities like gold have captured $1.3 billion in market value by early 2025.
- Algorithmic stablecoins remain a niche category, with a total market cap of just over $500 million as of March 11th 2025, a fraction of the broader stablecoin market.
- FRAX displayed year-over-year growth of ~1,277% in 2025 among algorithmic/hybrid coins.
- With staked stablecoins reaching $6.9 billion in market capitalization by late May 2025 – up 28% in recent months – investors have discovered they need not choose between stability and returns. Assets like sUSDe and sUSDs have attracted $1.23 billion and $700 million respectively, proving that even conservative crypto investors appreciate passive income opportunities.
- Non-USD fiat stablecoins surged 30% to $533 million in April, while gold-backed variants gained significant traction-clear indications that investors are hedging against dollar volatility while maintaining their crypto market exposure.
- In 2025, about 73% of algorithmic stablecoins use dual-token models, enhancing resilience during market volatility.
- In 2025, 31% of new algorithmic stablecoins integrate dynamic fee structures, adjusting transaction costs in response to market behavior.
Join our trading competition with GRVT to win USDT rewards: https://airdropbee.com/grvt-airdrop/
DATA SOURCES
- https://am.jpmorgan.com/us/en/asset-management/adv/insights/market-insights/market-updates/on-the-minds-of-investors/what-is-a-stablecoin/
- https://coinlaw.io/stablecoin-statistics/
- https://akawelle.com/p/stablecoins-explained-the-bridge-to-traditional-finance/
- https://www.cointribune.com/en/stablecoin-market-surges-to-15-6-trillion-in-transfers-and-300b-supply-in-q3-2025/
- https://blog.amberdata.io/stablecoin-q1-2025-insights-on-trends-regulation
- https://coinwavenews.com/stablecoins-revolutionize-crypto-landscape/
- https://coinlaw.io/usd-coin-vs-tether-statistics/
- https://sqmagazine.co.uk/stablecoin-market-share-by-chain-statistics/
- https://trumpmemecoinnews.com/stablecoins-set-to-reshape-crypto-future/
- https://coinlaw.io/rlusd-statistics/
- https://sqmagazine.co.uk/usd-coin-statistics/
- https://sqmagazine.co.uk/cryptocurrency-payment-adoption-by-merchants-statistics/
- https://coinlaw.io/algorithmic-stablecoins-statistics/
- https://business.cornell.edu/article/2025/08/stablecoins/
- https://en.wikipedia.org/wiki/Stablecoin
- https://edition.cnn.com/2025/06/05/business/stablecoins-crypto-genius-act
- https://www.fgveurope.de/wp-content/uploads/2025/02/Research-Study-Emily-Ekshian.pdf
- https://www.21jingji.com/article/20250613/herald/9a0af5670b4e32780e3982e83bdcac80.html
- https://www.reuters.com/business/finance/stablecoins-market-cap-surges-record-high-us-senate-passes-bill-2025-06-18/
- https://fsspdvd.com/p/stablecoins-the-anchor-in-volatile-digital-seas/
- https://sqmagazine.co.uk/stablecoin-reserves-transparency-statistics/
- https://info.arkm.com/research/how-stablecoins-reached-a-300-billion-market-cap-in-2025
- https://www.riseworks.io/blog/stablecoin-statistics-from-2025
- https://www.bastion.com/blog/the-state-of-stablecoins-March-2025
- https://cryptonewsobserver.com/stablecoin-spotlight-main-street-banks-crypto-revolution/
- https://blockchainnewsdesk.com/stablecoins-transformative-force-shaping-crypto-future/
- https://kaanchnetworknews.com/see-how-stablecoins-are-revolutionizing-crypto-landscape/
- https://coinnewswatch.com/crypto-enthusiasts-embrace-stablecoins-betting-on-mainstream-dominance/
- https://voice.lapaas.com/stablecoins-market-cap-300-billion-2025/
- https://coinlaw.io/usdt-staking-statistics/
- https://treasurup.com/stablecoins-for-banks-strategic-playbook-2025/
- https://www.hsbc.com.hk/wealth/insights/learn-to-invest/start-investing/stablecoins-in-a-nutshell/
- https://www.chainalysis.com/blog/2025-crypto-crime-report-introduction/
- https://www.bis.org/publ/bisbull108.pdf
- https://www.investopedia.com/terms/s/stablecoin.asp
- https://coinlaw.io/stablecoin-market-share-by-chain-statistics/
- https://cryptoprocessing.com/insights/usdc-vs-usdt
- https://goldandcryptoinvestment.com/battle-for-stablecoin-dominance-regulators-dethrone-tether/
- https://dexcryptodaily.com/surging-stablecoins-financial-giants-wall-street/
- https://cryptonewstribune.com/stablecoins-upending-crypto-landscape/
- https://www.mckinsey.com/industries/financial-services/our-insights/the-stable-door-opens-how-tokenized-cash-enables-next-gen-payments
- https://web.archive.org/web/20250327091720/https://ffnews.com/newsarticle/cryptocurrency/uae-stablecoin-usage-up-55-yoy-as-new-regulations-drive-market-momentum/
- https://www.chainalysis.com/blog/2024-global-crypto-adoption-index/
- https://www.trmlabs.com/reports-and-whitepapers/global-crypto-policy-review-outlook-2025-26
- https://www.spglobal.com/ratings/en/regulatory/article/stablecoins-financial-stability-and-treasuries-whats-next-for-money-and-safe-assets-s101659822
