Stablecoin Market Surpasses $300 Billion in 2025 Amid 47% Growth

• Stablecoins hit $300 billion in market cap on October 3, 2025, with a 47% year-to-date increase.
• Ethereum leads in market share, while Solana-based stablecoins saw a growth surge of nearly 70%.

On October 3, 2025, the stablecoin market reached a historic milestone, crossing $300 billion in total market capitalization. This marks the first time the sector has achieved this figure, with a 47% year-to-date growth that underscores accelerating adoption of stable assets in the cryptocurrency ecosystem. The data, aggregated by DefiLlama, highlights an upward trend driven by both established players and emerging projects.

Tether's USDt (USDT) and Circle’s USDC continued to dominate the market, absorbing substantial inflows throughout the year. Ethena Labs’ USDe, a yield-bearing stablecoin, emerged as a standout performer in 2025. USDe’s market cap expanded by over 150%, rising from $6 billion at the start of the year to nearly $15 billion in October. This growth positions it among the fastest-rising stablecoins of the year.

Ethereum remains the predominant platform for stablecoin circulation, hosting supply worth $171 billion as of October. However, Solana-based stablecoins recorded the most significant growth, with a nearly 70% increase in supply, climbing from $4.8 billion to $13.7 billion since January. Other networks, including Arbitrum and Aptos, also experienced steady upward trends in stablecoin adoption during the same period.

This milestone has fueled discussions about the potential for mainstream adoption of stablecoins. Phil George, founder of EarnOS, projects that the market could double in size to $600 billion by 2026. He also suggests the growing interest of major payment companies like Visa in the sector could act as a significant catalyst. Aryan Sheikhalian, head of research at CMT Digital, envisions stablecoin circulation surpassing $1 trillion by 2030, driven by their integration into corporate treasuries and consumer-facing payment systems. Both experts emphasize the transformative potential stablecoins hold for the financial industry’s infrastructure.

Current market data as of October 3, 2025, 15:11 UTC, shows Tether’s USDt (USDT) trading at $1.001, with a 0.03% change in its 24-hour trading volume. Circle’s USDC is valued at $1, reflecting a 0.012% change over the same period. Ethena’s USDe is priced at $1.001, marking a 0.036% drop in its 24-hour volume. Among major cryptocurrencies, Solana (SOL) is trading at $230.038 after a 2.684% rise in 24-hour volume. Aptos (APT) has climbed 6.348% to $5.304, while Arbitrum (ARB) increased by 1.528% to $0.442, according to the latest figures.