Tether Drives Stablecoin Surge as Net Inflows Jump 324% in Q3

- Q3 net inflows surging 324% to $45.6 billion, driven by Tether, USDC, and USDe. - Market cap rising to $297 billion, though active addresses and transfer volume declined. On September 29, 2025, Cryptopolitan reported a remarkable 324% growth in stablecoin net inflows from Q2 to Q3, bringing the total to $45.6 billion. Tether's USDT led this growth with $19.6 billion in net inflows, while Circle's USDC followed, growing from $500 million in Q2 to $12.3 billion in Q3. Ethena Labs' USDe also saw substantial gains, as its inflows climbed from $200 million to $9 billion during the same period. The overall stablecoin market capitalization rose by 5% in the last 30 days, hitting $297 billion. However, other metrics reflected mixed trends, as the number of monthly active addresses dropped 22.6% to 26 million. Meanwhile, stablecoin transfer volume decreased by 11% to $3.17 trillion in September. Despite increasing competition, Tether's USDT maintains a dominant 59% market share, followed by Circle's USDC at 25% and Ethena's USDe at 5%. Ethereum remains the leading blockchain for stablecoins, hosting $171 billion of the circulating supply, while the Tron blockchain accounts for another $76 billion. These trends have sparked growing interest from traditional financial institutions. In August 2025, Citigroup analysts cautioned that the rising adoption of interest-bearing stablecoins could disrupt banks. This concern prompted them to adjust their forecast, and they now predict the stablecoin market could reach $1.9 trillion by 2030 in a base-case scenario, driven by deposit outflows from the traditional banking sector. According to CoinMarketCap's latest data from September 29 at 21:14 UTC, Tether (USDT) was trading at $1.001, a 0.024% change in 24-hour volume. In comparison, Circle's USDC was priced at $1.00, showing a -0.015% change, while Ethena USDe stood at $1.001, marking a 0.035% increase.