Stablecoins Hit $300B Market Cap Amid 47% Yearly Growth

- Stablecoin market capitalization hits $300 billion milestone in 2025 - Ethereum leads stablecoin circulation as networks like Solana and Aptos see significant growth On October 3, 2025, Cointelegraph reported that the stablecoin market cap crossed $300 billion. This event marks a 47% growth year-to-date, highlighting rising adoption and interest in cryptocurrencies pegged to fiat currencies or commodities. Established players like Tether (USDT) and Circle (USDC) continue to dominate the market; however, they face rising competition from emerging stablecoins such as Ethena Labs’ yield-generating USDe token. Ethena’s USDe has grown its market share by over 150%, moving from $6 billion in January 2025 to nearly $15 billion by October. While Tether’s USDT remains the largest stablecoin, accounting for approximately 58% of market capitalization, its dominance has slightly declined compared to last year. Ethereum remains the leading blockchain for stablecoin circulation, with a supply of $171 billion as of October. However, other networks demonstrated rapid growth. Solana’s stablecoin supply surged nearly 70% this year, rising from $4.8 billion in January to $13.7 billion by October. During the same period, Arbitrum’s stablecoin circulation grew by approximately 70%, and Aptos’s circulation increased by 96%. Industry analysts see the $300 billion milestone as evidence of a maturing market, and they believe greater mainstream and corporate adoption will fuel significant potential for continued growth. Financial platforms such as Stripe and PayPal have entered the stablecoin space, while major companies like Amazon and Walmart are considering integrating stablecoins for their checkout systems. Projections suggest stablecoins could double their market supply within the next year, potentially reaching $1 trillion by the end of the decade. As of 15:13 on October 3, Tether (USDT) traded at $1.001, with its 24-hour trading volume changing by 0.014%. In comparison, USDC was priced at $1 with a 24-hour volume change of -0.013%, while market data showed Ethena USDe at $1.001 with a 24-hour trading volume increase of 43.055%.