Catenaa, Tuesday, March 25, 2025-The stablecoin market has reached a new milestone, surpassing $230 billion in market capitalization, driven by rising adoption and increasing regulatory support in the United States.
Data from DefiLlama shows the stablecoin market cap now stands at $230.2 billion, marking a 72% increase from last year’s valuation of $133.25 billion. Tether (USDT) remains the market leader, holding 62.5% of the market share, while Circle’s USDC follows with $59 billion in circulation.
The surge follows a period of recovery since the collapse of the Terra-Luna ecosystem and crises involving companies like FTX and Celsius in 2022. The stablecoin market has gained traction in 2023 and 2024, with active stablecoin wallets rising by 53% from 19.6 million in February 2024 to 30 million in February 2025.
Tether, which has grown in influence beyond crypto markets, is now one of the largest buyers of US Treasuries. CEO Paolo Ardoino confirmed that the company purchased $33.1 billion in Treasuries in 2024, surpassing countries like Germany and Canada.
US regulators are taking action to provide clearer oversight. On March 20, President Donald Trump called for legislation to regulate stablecoins, and the Senate Banking Committee advanced the GENIUS Act, which proposes Federal Reserve oversight for stablecoin issuers with over $10 billion in market capitalization.
With stablecoins accounting for more than 1% of the US dollar M2 money supply, the digital assets are gaining a more significant role in global finance, with implications for cross-border payments and financial stability.
