The usage of stablecoin — cryptocurrencies with a steady worth pegged to conventional property such because the U.S. greenback or the euro — has surged considerably over the previous yr. In line with a current report by Dune and Artemis, the variety of energetic addresses utilizing these digital property elevated by 53%, rising from 19.6 million in February 2024 to 30 million in February 2025.
Presently, the entire market capitalization of stablecoins surpasses $214 billion, marking a 63% development in comparison with the earlier yr. Nonetheless, this market stays comparatively small when in comparison with the normal monetary system. For instance, the U.S. cash provide (M1)—which measures the entire amount of money in circulation and demand deposits—stands at roughly $18.4 trillion. This quantity is almost 100 occasions bigger than the entire provide of stablecoins accessible immediately.
Greatest stablecoin
Among the many most generally used stablecoins, USDT (also referred to as Tether) stays dominant, accounting for 64% of the entire market. Nonetheless, its market share has not too long ago declined as a result of speedy development of one other stablecoin, USDC. Issued by the corporate Circle, USDC has doubled its market presence, reaching $56 billion after securing regulatory approval in the European Union underneath the MiCA Regulation—a framework designed to supervise digital asset markets in Europe.
One other rising stablecoin making waves is USDe, a decentralized foreign money developed by Ethena Labs. Not like conventional stablecoins, that are backed by reserves in {dollars}, euros, or authorities bonds, USDe employs a complicated monetary technique often known as delta-neutral hedging, utilizing Ethereum-based property. In easy phrases, this technique protects its worth from market fluctuations, guaranteeing stability. Over only one yr, USDe’s whole market worth surged from $620 million to $6.2 billion.
When it comes to monetary transactions, stablecoins processed an astonishing $35 trillion in quantity in 2024, surpassing even monetary giants like Visa and Mastercard.
Institutional vs. Peer-to-Peer Use
USDC is most popular for institutional operations resulting from its stronger regulatory compliance. Alternatively, USDT dominates casual transactions and peer-to-peer (P2P) operations—that are direct transactions between customers with out intermediaries. On this panorama, the Tron blockchain stands out, significantly in rising markets, the place it’s favored for its low-cost and quick transactions.
Amongst blockchain networks—the digital platforms that retailer and facilitate transfers of those cryptocurrencies—the Base community recorded the best transaction quantity development, reaching $1.9 trillion in 2024. Base has gained recognition resulting from its affordability and pace. In the meantime, Ethereum stays a cornerstone of the decentralized finance (DeFi) sector, whereas Solana has attracted customers engaged in speculative investments, corresponding to memecoins—cryptocurrencies impressed by web memes.
Specialists imagine that stablecoins have but to succeed in their full potential. Rob Hadick, an government at Dragonfly, emphasizes that stablecoins are essential for world monetary enlargement, as they supply entry to monetary alternatives beforehand out of attain. As regulatory frameworks proceed to evolve, the expansion of those digital property is predicted to speed up additional.
Airí is a Advertising graduate from Universidade Estácio de Sá and holds a grasp’s diploma in Strategic Management from Unini. Since 2017, they’ve been working in the cryptocurrency, blockchain, and Web3 sectors, having printed practically 800 articles on BeInCrypto and CoinGape. Moreover, they’ve labored as a ghostwriter for Brazilian exchanges like BitcoinTrade, creating instructional content material that attracted new customers. With a expertise for simplifying rising applied sciences, she helps readers confidently navigate the world of cryptocurrencies.
Disclaimer
The data supplied in this text is for informational functions solely and displays the writer’s opinion. It shouldn’t be construed as monetary, authorized, or funding recommendation. The cryptocurrency market is risky and carries dangers. Please conduct your personal analysis earlier than making any selections.
