In recent days, the total amount of stablecoins in the market has reached $250 billion, marking a significant milestone for digital assets.
Overall Growth of Stablecoin Supply
According to the latest stats from Delphi Digital, the total supply of stablecoins surpassed $250 billion for the first time. The leading players in the market remain Tether's USDT and Circle's USDC, which together account for 86% of the outstanding supply. However, issuer diversity is on the rise, with over 10 stablecoins now exceeding $100 million in circulation.
Factors Behind the Market Growth
The growth of the stablecoin market can be attributed to the recovery of the digital asset market after several significant disruptions over the past four years, including the collapse of Terra (UST) in May 2022 and the USDC de-peg prompted by the regional banking crisis. Recent successes have also been linked to increased institutional interest and the upcoming launch of US-listed crypto ETFs in 2024.
Advancement of the GENIUS Act
The GENIUS Act, which was passed by the Senate with a 68-30 vote, is now awaiting action from the House of Representatives. President Donald Trump has called for swift passage of the bill, which he stated could position the US as a leader in digital assets. However, the legislation has faced criticism, particularly from Democratic lawmakers, raising concerns over potential conflicts of interest.
The total amount of stablecoins has reached a new record, highlighting the growth and development of this sector. At the same time, legislative efforts such as the GENIUS Act may influence further development and regulation of stablecoins in the US.
