Catenaa, Tuesday, June 10, 2025- The stablecoin market has crossed a historic milestone, with total capitalization surpassing $250 billion for the first time, signaling rising institutional confidence and adoption, driven by mounting regulatory clarity and booming decentralized finance activity.
Data from CoinGecko shows the market cap currently stands at $250.3 billion, with US dollar-backed stablecoins making up over 98% of the total. Tether’s USDT leads with $153 billion, followed by Circle’s USDC at $60.9 billion.
Analysts attributed the surge to momentum from new legislation in the United States and Hong Kong.
The US Senate recently advanced the Guiding and Establishing National Innovation for US Stablecoins Act, or GENIUS Act, a Trump-endorsed bill that requires full backing of stablecoins by dollars or liquid assets, annual audits for major issuers, and oversight for foreign entities.
Hong Kong followed suit with a stablecoin licensing regime passed on May 21.
Traditional finance firms are reportedly preparing to launch their own joint stablecoin initiative, including institutions co-owned by JPMorgan, Citi, Wells Fargo and Bank of America.
Meanwhile, the decentralized finance (DeFi) sector is accelerating. Data from DefiLlama shows $113.17 billion in total value locked. Decentralized exchanges accounted for 25% of global crypto spot trade volume last month, up from historic lows.
Analysts now predict stablecoin market cap could double by 2026, spurred by emerging entrants such as bank-issued tokens and newer politically backed offerings like USD1.
