The stablecoin market has blown past $300 billion in total supply. And Tether, the company that crypto’s regulatory class has spent years trying to dethrone, is eating a bigger slice of the pie than ever.
USDT now accounts for roughly 58-63% of the entire stablecoin market, depending on which tracker you prefer. Arkham pegs the supply around $176 billion, while DefiLlama shows it closer to $189-190 billion.
The $100 billion surge
To appreciate what’s happened here, rewind to early 2025. The total stablecoin supply sat around $205 billion. In the months since, nearly $100 billion in new supply has flooded into the market.
The World Economic Forum has estimated stablecoins’ aggregate market cap at around $300 billion, noting their role in facilitating transactions worth trillions of dollars.
