The total market capitalization of stablecoins has surpassed $250 billion for the first time, with Tether’s USDT leading at over $153 billion and Circle’s USDC at approximately $61 billion
The total market capitalization of stablecoins has surpassed $250 billion for the first time, with Tether’s USDT leading at over $153 billion and Circle’s USDC at approximately $61 billion. The sector added $1.31 billion in the past week, and USDT increased its market cap by $5 billion over the last 30 days, outpacing its main competitor.
USDT’s market share stands at 62.1%, with 21 consecutive months of growth and a 79% trading dominance on centralized exchanges. In contrast, USDC’s market cap declined by $909 million in the past month. FDUSD saw a nearly 16% rise. Tether’s reserves reportedly include 100,000 Bitcoin and 50 tons of gold.
The stablecoin market’s expansion coincides with accelerating regulatory momentum, including the advancement of the U.S. Senate’s stablecoin bill and new legislation in Hong Kong. May recorded 33.1 million active stablecoin addresses and an 83.3% increase in Circle’s CCTP bridge volume, reaching $7.7 billion. Over $1.75 billion of USDC was minted on Solana, and more than $650 million in assets were bridged to the network, with Solana hosting over 1.4 million new tokens launched in May, primarily memecoins.
Analysts attribute the stablecoin market’s growth to increased regulatory clarity and the adoption of decentralized finance applications. Decentralized exchanges accounted for a record 25% of global spot trade volume last month.
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