The stablecoin market’s complete worth has surpassed $270 billion, marking a brand new milestone for the sector, in response to stats collected by defillama.com and artemisanalytics.com.
Stablecoin Financial system Climbs as Exercise Broadens
Over the past seven days, combination stablecoin capitalization rose by $3.051 billion, a 1.14% achieve, per defillama’s dashboard. The brand new complete locations the asset class within reach of its prior peak and extends a gentle climb that carried by 2024 and 2025. The determine displays circulating provide multiplied by worth and focuses on dollar-pegged tokens.
Presently, tether ( USDT) stays the market chief with 61.06% dominance. USDC is the second-largest part, whereas a mixture of rivals, together with Ethena’s USDe, Sky’s USDS and DAI, and Blackrock’s BUIDL, account for single-digit shares. Artemis Terminal’s market-share chart exhibits USDT holding a large lead in 2025 and USDC’s portion trending greater this 12 months.
Supply: Defillama.com
Exercise stays broad. Artemis experiences 42.8 million addresses interacted with stablecoins over the past month, down 15.2% from the prior 30 days, but nonetheless close to the excessive finish of a five-year vary. Handle exercise by chain has widened, with notable participation on BNB Chain, Tron, Base, Arbitrum, Solana, and OP Mainnet alongside Ethereum.
Turnover is heavy. Artemis figures estimate $2.7 trillion in adjusted stablecoin switch quantity over the past 30 days, even after an 11.19% month-over-month decline. The terminal’s multi-year view exhibits rolling adjusted quantity within the $1 trillion vary for a lot of 2024–2025, typically near Visa’s stage and properly above Paypal and international remittance totals on a like-for-like foundation.
Supply: Artemis Terminal
Transaction counts stay elevated at 1.3 billion over the past 30 days, down 23.55% from the earlier interval. That tally spans main networks and factors to repeated use for funds, settlement, buying and selling, and pockets funding throughout centralized and onchain venues.
Provide composition skews decisively to the U.S. greenback. Artemis’s foreign money breakdown exhibits issuance overwhelmingly in USD phrases, with euro, pound, and different fiat pegs representing an especially skinny slice of combination provide. U.S. greenback tokens proceed to anchor crypto pricing and collateral practices throughout main exchanges and lending platforms.
Chains matter. Artemis’s supply-by-chain chart exhibits Ethereum and Tron holding the biggest excellent balances to this point, adopted by BNB Chain, Solana, Base, and Arbitrum. A five-year view of web provide change ranks Ethereum first by absolute progress, with Tron second. Rising contributions from Base and Solana spotlight further venues for issuance and circulation.
Supply: Artemis Terminal
By token, the five-year net-change desk locations USDT far forward in added provide, with USDC subsequent. USDe and USDS contribute smaller however notable will increase, whereas DAI and BUIDL add incremental quantities. The combination suggests incumbents nonetheless dominate issuance, whilst new devices goal onchain money administration or delta-neutral yield methods.
Regional circulate is diversified. Utilizing a timezone-based methodology on Ethereum and Solana, Artemis attributes a big share of adjusted transactions to North America and Asia, with Europe’s share lifting since 2024. Latin America, Southeast Asia, and Africa register smaller however very seen parts, signaling adoption by each retail and institutional customers.
Energetic-address charts by token spotlight USDT and USDC as major drivers, with deal with counts and interactions posting new highs into 2025. Smaller issuers, together with PYUSD and different area of interest pegs, present restricted however regular engagement. The breadth of deal with participation factors to stablecoins’ function as a crypto gateway and settlement medium.
The info from defillama.com and Artemis Terminal each level to a system that’s bigger, extremely energetic, and geographically distributed. The $270.303 billion headline determine caps a interval of constant enlargement, whereas liquidity concentrates in a handful of issuers and blockchains. The asset class features as a bridge between buying and selling venues, wallets, and conventional finance, together with centralized exchanges and onchain protocols.
Supply: Defillama.com
As the full float reaches the $270 billion threshold, liquidity circumstances on exchanges and in decentralized finance (DeFi) stay carefully linked to dollar-pegged property. Month-to-month rhythms range, but the mixture of dominant issuers, multi-chain distribution, and deep deal with exercise signifies persistent demand for tokenized {dollars} throughout buying and selling, remittances, and settlement.
For context, Defillama lists complete stablecoin market cap historical past climbing from underneath $10 billion in 2019 to above $250 billion by late 2021, adopted by a drawdown and a gradual restoration into 2025. As we speak’s $270.303 billion studying locations the float at a brand new excessive for the interval.
