Stablecoin supply hits $233B in April: USDT, USDC tighten grip on 90% of the market
The post Stablecoin supply hits $233B in April: USDT, USDC tighten grip on 90% of the market appeared on BitcoinEthereumNews.com.
USDT leads with $144B cap, capturing 63% of the total stablecoin market share. Stablecoin market cap rose 9.61% between January and April 2025. The stablecoin sector saw record-breaking growth in the first quarter of 2025. According to data from IntoTheBlock, the total stablecoin supply hit $220 billion by April 2025, before rising to $233.47 billion by the first week of April. It goes on to show three things. Source: IntoTheBlock Rising institutional adoption, increased demand for on-chain liquidity, and the centralization of market power between two dominant issuers: Tether (USDT) and USD Coin (USDC). USDT’s status as crypto’s de facto liquidity engine USDT boasted a commanding $144B+ market cap, translating to 63% of total stablecoin supply. USDC, while trailing, has reclaimed momentum with a market cap of $59B and a 27% share. Source: IntoTheBlock Together, these two juggernauts control over 90% of the entire stablecoin market—leaving little room for challengers and pointing squarely to a centralized power dynamic. This growth aligns with Circle’s upcoming IPO plans Recently, Circle filed to go public under the ticker “CRCL” on the New York Stock Exchange. Backed by JPMorgan and Citigroup, Circle eyes a $5B IPO—despite net income sliding 42%, from $268M to $156M. Still, the timing is no accident. The growing stablecoin market offers a favorable backdrop for such a move, potentially rekindling institutional interest at scale. Stepping back, the stablecoin market grew from $206B in January to $225.8B in April, marking a 9.61% increase in just three months. However, this momentum isn’t universal. DAI, FRAX, and TUSD saw sluggish growth, clinging to under 10% of market share—a clear signal of weak traction. Ethereum still leads, but Tron is catching up From a platform perspective, Ethereum [ETH] remains the stronghold, hosting 53.39% of all stablecoins. Tron follows with 28.55%, while Solana [SOL], BSC,…
Filed under: News - @ April 5, 2025 3:18 pm