Stablecoin Market Explodes in First Half of 2025: USDT Leads $252B Surge

• How Big Is the Stablecoin Market in 2025?
• Why Are Stablecoins Growing So Fast?
• Which Stablecoins Are Winning?
• What’s Next for Stablecoins?
• Stablecoin Market FAQs

The stablecoin market has skyrocketed in the first half of 2025, with total supply reaching $252 billion—a 23.5% jump from 2024. Tether (USDT) dominates with a $162B market cap, while Circle’s USDC and PayPal’s PYUSD gain traction. Regulatory tailwinds like the U.S. GENIUS Act and Europe’s MiCA framework are fueling adoption. Here’s why stablecoins are becoming the backbone of global crypto and traditional finance.

How Big Is the Stablecoin Market in 2025?

CertiK Skynet’s latest report reveals stablecoin supply ballooned to $252 billion in H1 2025—up from $204 billion in 2024. Monthly settlement volumes hit $1.39 trillion, proving these assets aren’t just parked but actively moving value across blockchains. Tether (USDT) remains the undisputed leader with a $162 billion market cap, while USDC follows at $64 billion after its MiCA-compliant relaunch and a record-breaking IPO. What’s wild? Over $81 billion of USDT now circulates on Tron alone, processing 2.3 million daily transactions. PYUSD, boosted by its solana integration and rewards program, doubled its float. Even niche players like RLUSD—pitched as the "institutional stablecoin"—are gaining share thanks to rigorous audits.

Why Are Stablecoins Growing So Fast?

Three words: regulation, utility, and yield. The U.S. GENIUS Act (signed by President TRUMP in Q2 2025) now mandates 1:1 cash/Treasury reserves and monthly reporting for issuers. Meanwhile, Europe’s MiCA framework classifies stablecoins as ARTs or EMTs, requiring EMI licenses and real-time monitoring. Ironically, this clarity pushed non-compliant coins like USDT off EU exchanges—yet their global usage keeps growing. As one BTCC analyst noted, "Stablecoins are eating traditional payment rails for breakfast. Why wait 3 days for a SWIFT transfer when you can move millions in seconds?"

Which Stablecoins Are Winning?

Here’s the breakdown:

• USDT ($162B): Still the king, especially on Tron. Daily volume topped $152B on July 23.
• USDC ($64B): Gained after going full MiCA-mode. Institutions love its transparency.
• PYUSD ($12B): Solana integration was a game-changer. Its "PayPal Rewards" program doesn’t hurt either.
• RLUSD ($8B): The "audited stablecoin" for hedge funds. Boring? Maybe. Safe? Absolutely.

Fun fact: Algorithmic stables like USDE and USDS now make up 9% of the market—proof that decentralization still has a seat at the table.

What’s Next for Stablecoins?

Expect the $1 trillion milestone by 2026. With Brazil’s CBDC pilot and Japan’s "Stablecoin Act" rolling out, governments are either embracing or competing with private issuers. As for risks? The BTCC team warns: "Not all stables are created equal. Always check reserve reports—especially with algo coins." One thing’s certain: whether you’re trading crypto on BTCC or sending remittances, stablecoins are now the oil in the financial system’s engine.