USDT and USDC Dominate 85% of the Stablecoin Market As Market Reaches $246.5B 💰

USDT and USDC control over 85% of the $246.5B stablecoin market capitalization.

DAI and USDe show high trading volumes despite relatively lower market capitalizations.

Smaller stablecoins like USDO and USDY reflect increasing diversity in the stablecoin ecosystem.

According to new data published by Phoenix Group, the total market capitalization of stablecoins reached $246.50 billion as of May 16, 2025. Stablecoins now account for 7.46% of the total crypto market, offering insight into the role these tokens continue to play in trading activity, liquidity provision, and decentralized finance systems.

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