Stablecoins Witness Massive Growth,Reaching $243.8 Billion Market Cap
Stablecoins, including Tether and USD Coin, have surged this week, achieving a record market cap of $243.8 billion. These digital currencies started the year at $240 billion and have since added $38 billion.
Tether (USDT) leads the pack, with its market capitalization reaching over $151 billion, accounting for 62% of the total. USD Coin (USDC) follows closely behind,holding $60.4 billion in assets. Ethena USDe (USDe) holds almost $5 billion.
Donald Trump’s recently launched USD1 by World Liberty Financial has amassed over $2.1 billion. This success is partly due to MGX’s $2 billion investment in Binance, the world’s top crypto exchange.
- Ripple USD (RLUSD) owns $900 million in assets.
- PayPal’s PYUSD holds $313 million in assets.
Stablecoins are increasingly used in everyday transactions. Visa data shows 192.2 million unique sending addresses and 242.7 million receiving addresses in the last year. The total active addresses risen to 250 million.
This growth has driven 5.8 billion transactions, with a total volume of $33.6 trillion. Stablecoins are popular for their lower costs and faster transactions compared to traditional methods.
For example, sending $1,000 through PayPal incurs a 2.99% fee plus a variable charge. Stablecoins offer significantly lower fees. Citi predicts stablecoins will be worth over $1.6 trillion by 2030. Standard Chartered expects them to hit $2 trillion by 2028.
