The stablecoin market capitalization has surpassed $300 billion, a significant milestone reflecting increased investor confidence and the growing integration of digital currencies into the broader financial landscape. This surge is largely attributed to a more defined regulatory environment, which has provided a much-needed framework for stablecoin issuers and users alike.
On October 3, 2025, the total market capitalization of stablecoins reached $301.6 billion, according to data from DeFiLlama. While Tether’s USDT continues to hold the largest share at 58.4%, other stablecoins are also seeing substantial growth. The distribution across major assets shows USDT at 58.44%, USDC at 24.56%, USDe at 4.92%, and DAI at 1.66%, with other stablecoins making up the remaining 10.42%. Over the preceding month, the market caps of the top three stablecoins experienced notable increases of 5.6% (USDT), 2.7% (USDC), and 18.94% (USDe).
A primary driver behind this expansion is the increasing regulatory clarity, particularly with the signing of the Stablecoin Act (GENIUS) by President Donald Trump in mid-July 2025. Experts at JPMorgan Chase noted that since the act’s enactment, the stablecoin sector’s market capitalization has surged by 19%, and by 42% since the beginning of 2025. This growth rate is double that of the overall cryptocurrency market during the same period.
The increasing adoption of stablecoins is also evident when viewed against traditional financial metrics. Stablecoins now represent approximately 1.3% of the United States’ money supply, an increase of 35 basis points since the start of 2025. This suggests a growing role for these digital assets in the economy.
Notably, Circle and its stablecoin, USDC, appear to be significant beneficiaries of the evolving regulatory landscape. Since the beginning of 2025, USDC’s market share has risen by 4%. In contrast, USDT’s dominance has decreased by 9% over the same period. This shift is largely attributed to Circle being a U.S.-based, publicly traded company, which has enabled its stablecoin to align more comprehensively with the requirements of the GENIUS Act, thereby fostering greater trust and adoption among institutional and retail investors operating within U.S. regulatory frameworks.
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