The stablecoin market has crossed $300 billion in total capitalization. Only about $4.6 billion of the entire stablecoin supply is classified as yield-bearing, which means the overwhelming majority of capital is parked, unproductive, and idle.
The velocity problem
The velocity of stablecoins sits at roughly 5x. The average stablecoin dollar gets used about five times before it stops circulating.
Real-world payment volume for stablecoins is projected at around $400 billion for 2025. Against a $300 billion-plus supply base, it reveals a market where most tokens are held rather than spent.
USDT (Tether) dominates the landscape at around 60% of total stablecoin market cap. USDC (Circle) holds roughly 23%.
