The stablecoin market has reached new heights, with the total market capitalization hitting a record $243 billion as of early May 2025. This marks a $7.85 billion increase in the past 30 days, including $4.09 billion in the last week alone. The growth follows 19 consecutive months of supply expansion, with fiat-backed stablecoins reaching an average supply of $218 billion in April, up 2% month-over-month and 8% year-to-date. Monthly transaction volumes have also surged, surpassing $720 billion, another record. Key stablecoins such as Tether (USDT) and USD Coin (USDC) have contributed significantly, with USDT adding $5.3 billion and USDC $6 billion in recent months. The resurgence in stablecoin liquidity is seen as a precursor to potential gains in Bitcoin and other cryptocurrencies. The U.S. Treasury projects that stablecoins could grow to $2 trillion by 2028, nearly ten times the current size, and Citi forecasts a possible rise to $3.7 trillion by 2030 under a bullish scenario. Stablecoins are increasingly recognized for their role in facilitating open, instant, and borderless payments, moving $15.6 trillion in value in 2024 alone. Additionally, the Tron network dominates stablecoin transaction volume, with $4-5 billion worth of USDT transacted daily through its platform. This growing momentum in stablecoins is also prompting regulatory attention and discussions about their impact on global financial markets.

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