【ChainNews】The stablecoin market in 2025 is ushering in a new change. As the US government’s attitude towards digital assets has significantly warmed, the demand for regulated blockchain dollars continues to grow. The latest data shows that Circle’s USDC has become the fastest-growing mainstream stablecoin — increasing by 73% over the past year, with a market cap reaching $75.12 billion, marking the second consecutive year surpassing competitors.
In comparison, Tether’s USDT, although still the largest in scale ($186.6 billion), has seen a noticeable slowdown in growth. It only grew by 36% in 2025, down from a 50% growth rate in 2024. The data comparison between the two is quite interesting: last year, USDC grew by 77%, USDT by 50%; this year, USDC grew by 73%, USDT by 36%.
What’s even more noteworthy is market concentration — USDC and USDT together account for over 80% of the total global stablecoin market cap of $312 billion. This means that other stablecoin projects have not yet benefited much from the improved US regulatory environment, and market dominance remains highly concentrated in these two giants.
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NotSatoshi
· 01-06 13:17
The growth rate of USDC is really incredible; it feels like the trend has definitely shifted. But considering how large the USDT market cap is, it's not surprising that its growth has slowed down.
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just_another_wallet
· 01-06 13:13
USDC this wave is really impressive, with a 73% growth rate catching USDT off guard.
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ThesisInvestor
· 01-06 13:06
Looking at this data, USDC is really on the move, surpassing USDT for two consecutive years. Its regulatory-friendly nature still has some appeal.
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CryptoDouble-O-Seven
· 01-06 13:04
Big companies' endorsement is truly different; the growth rate of USDC is a bit terrifying.
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How long can USDT last? It feels like it's about to be swallowed.
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This time, the regulatory environment has become more friendly, which could really change the landscape. Interesting.
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A 70-30 growth split is still acceptable for USDC, but USDT's size is still there.
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Circle's recent surge to catch up is real; it's been two consecutive years. I'm worried.
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What do you think about market concentration? Is a monopoly between two companies good or bad?
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The slowdown in USDT's growth is a bit uncomfortable; need to find out the reason.
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Can regulatory approval really lead to price increases? Then why wasn't it used before?
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It dropped from 50 to 36; USDT has really been pulled down.
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BagHolderTillRetire
· 01-06 13:01
Oh wow, the growth rate of USDC is really impressive. Regulatory friendliness is definitely a plus.
USDT's big brother can't sit still anymore. 36% growth? Things are no longer so stable.
Wait, these two together are taking over the majority of the global stablecoin market. What about the survival space for other currencies?
But honestly, the improved regulatory attitude really changes the game. In the past, USDT was absolutely dominant.
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OnChainArchaeologist
· 01-06 13:00
Regulatory friendliness really is a game-changer. The growth rate of USDC is indeed catching USDT off guard.
I told you, a large scale can't prevent falling behind... USDT should reflect on this.
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DAOplomacy
· 01-06 12:56
honestly the regulatory tailwind narrative hits different when you actually map the game-theoretic implications... USDC's trajectory arguably reflects non-trivial stakeholder alignment advantages rather than pure adoption momentum, but tbh the path dependency here is worth scrutinizing—historically these momentum shifts tend to flatten once you account for liquidity fragmentation costs, ngl
USDC surpasses USDT in growth rate, regulatory-friendly support drives the rise of trusted stablecoins
【ChainNews】The stablecoin market in 2025 is ushering in a new change. As the US government’s attitude towards digital assets has significantly warmed, the demand for regulated blockchain dollars continues to grow. The latest data shows that Circle’s USDC has become the fastest-growing mainstream stablecoin — increasing by 73% over the past year, with a market cap reaching $75.12 billion, marking the second consecutive year surpassing competitors.
In comparison, Tether’s USDT, although still the largest in scale ($186.6 billion), has seen a noticeable slowdown in growth. It only grew by 36% in 2025, down from a 50% growth rate in 2024. The data comparison between the two is quite interesting: last year, USDC grew by 77%, USDT by 50%; this year, USDC grew by 73%, USDT by 36%.
What’s even more noteworthy is market concentration — USDC and USDT together account for over 80% of the total global stablecoin market cap of $312 billion. This means that other stablecoin projects have not yet benefited much from the improved US regulatory environment, and market dominance remains highly concentrated in these two giants.