Between January 2024 and March 2025, the stablecoin market expanded significantly, with market capitalization increasing from $130 billion to $235 billion. This trend indicates the stable position of stablecoins within the global financial system.
Leadership of $USDT and $USDC in the Market
$USDT, the stablecoin with the largest circulating supply, saw its supply grow from $91 billion to $144.6 billion, accounting for 51% of the total market growth. Meanwhile, the supply of USDC increased from $23.8 billion to $60.6 billion, reflecting 35% of the overall market rise.
Expansion Across Blockchain Networks
As the issuance of $USDT and $USDC continues to rise, there are no restrictions on other stablecoins. Ethereum and Tron remain the leaders, with 81.99% of the market share issued through these chains. Ethereum's year-over-year growth rate was 86%, while Tron experienced a 34% growth. New blockchain networks like Solana and Base also saw significant increases.
Global Adoption and Future Outlook
The spread of stablecoins continues to grow, especially in cross-border payments and retail use. In Latin America and sub-Saharan Africa, stablecoins account for an increasingly significant proportion of transfers. The market is expected to reach a capitalization of $325 to $400 billion by the end of 2025.
The growth of the stablecoin market confirms their critical role in the financial ecosystem and opens up new opportunities for adaptation and usage within the traditional financial sector.
