Stablecoin transaction volumes reached an unprecedented $33 trillion in 2025, marking a 72% year-over-year surge as regulatory clarity and pro-crypto policy in the United States boosted market confidence and adoption across both institutional and retail sectors.
USD Coin (USDC) led the market with roughly $18.3 trillion in transactions, while Tether’s USDT recorded approximately $13.3 trillion, together accounting for the lion’s share of activity.
Analysts note the increasing popularity of stablecoins among individuals
Stablecoins are cryptocurrencies designed to maintain a stable value by pegging them to a real-world asset, such as gold, the US dollar, or other currencies. The Trump administration has taken steps to promote stablecoins, including the implementation of key regulations under the GENIUS Act in July.
This move created a friendly environment for crypto-related activities, thereby drawing the attention of several institutions that seek to adopt the use of cryptocurrencies, particularly stablecoins. Meanwhile, leading firms have made clear their intentions to introduce their own versions. Some of these key players in the industry include Standard Chartered, Walmart, and Amazon.
At this time, analysts noticed a growing trend among companies launching their own versions of stablecoins. For instance, World Liberty Financial Inc., a Trump-family-linked decentralised finance (DeFi) platform launched in 2024, announced the launch of its own stablecoin known as USD1 in March.
As more companies began to launch stablecoins in the industry, a financial report stated that the cryptocurrency’s total transaction volume surged sharply in 2025. However, the report disclosed that the percentage of transactions carried out on decentralised crypto platforms drastically dropped. This finding prompted analysts to conclude that most individuals utilised digital US dollars in mainstream settings.
Anthony Yim, co-founder of Artemis, commented on the situation. He argued that this discovery demonstrated that individuals began to adopt stablecoins on a widespread scale at a time when global instability was increasing. Yim also declared that people from nations experiencing rising inflation and turmoil opt to preserve their funds in dollars, asserting that stablecoins provide them an easier way to do so.
In the meantime, data from CoinGecko highlighted that Tether’s USDT secured a ranking as the largest stablecoin in the world in terms of market value. This ranking was based on USDT’s total circulation, which totalled approximately $187 billion. Notably, this figure exceeded Circle’s USDC, which recorded a total market value of approximately $75 billion.
Nonetheless, data from Artemis stressed that USDC recorded the highest total transaction volume.
USDC positions itself as the most preferred stablecoin globally
Regarding the announcement that Circle’s USDC leads in transaction volume, Yim explained that DeFi traders tend to shift positions more regularly. This trend, according to the co-founder, involves the frequent use of the same stablecoin dollar.
Contrastingly, Tether’s USDT is usually the preferred means of payment, business transactions or simply as a way to store value, he said. This preference drives individuals to store the stablecoin in their wallets rather than transferring it regularly.
Meanwhile, reports stated that the Genius Act was passed to provide regulatory clarity, support innovation, and protect consumers. Responding to this claim, Circle’s Chief Strategy Officer, Dante Disparte, who is also the Head of Global Policy and Operations at the company, argued that this regulation encouraged people to adopt USDC, as it provided them with the best liquidity and the highest degree of regulatory confidence globally.
When reports reached out to Tether for comments on the topic of discussion, the stablecoin company declined to respond. A representative from Artemis alleged that the firm holds less than a 1% share in Artemis.
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