In 2025, the total trading volume of stablecoins reached a new high of $33 trillion, with USDC ranking first in trading volume.

PANews reported on January 9th that, according to Bloomberg, Artemis data shows that the total trading volume of stablecoins surged 72% in 2025, reaching a record high of $33 trillion. Among them, USDC, developed by Circle, stood out with a trading volume of $18.3 trillion, while USDT, issued by Tether, had a trading volume of $13.3 trillion. Despite the increase in total stablecoin trading volume in 2025, the share of trading volume on decentralized cryptocurrency platforms decreased, indicating that stablecoins are being adopted more widely in the mainstream market.

By market capitalization, Tether's USDT is the world's largest stablecoin, with a circulating supply of $187 billion, far exceeding Circle Internet Group Inc.'s USDC (market capitalization of $75 billion). However, Artemis data shows that USDC dominates transaction volume. Furthermore, stablecoin transaction volume reached a record $11 trillion in the fourth quarter of 2025, compared to $8.8 trillion in the third quarter. According to Bloomberg Intelligence analysis, total stablecoin payment volume could reach $56 trillion by 2030.