Tether tightens grip as stablecoin market cap hits $243b

Stablecoins, like Tether USD Coin, continued their strong growth this week, with their market capitalization hitting a record of $243.8 billion.

These coins have added over $38 billion in assets since they started the year with $240 billion. Tether usdt-0.01%Tether boasts a market cap jumping to over $151 billion, giving it a dominance of 62%.

It is followed by USD Coin usdc0%USDC, which has $60.4 billion in assets, and Ethena USDe usde-0.02%Ethena USDe with almost $5 billion. 

The recently launched USD1 by President Donald Trump’s World Liberty Financial has gained over $2.1 billion in assets. Most of these funds are likely tied to MGX’s $2 billion investment in Binance, the biggest crypto exchange in the industry.

Other notable stablecoins are Ripple USD rlusd0.09%Ripple USD and PayPal’s PYUSD, which have accumulated assets of $900 million and $313 million, respectively. 

All this has pushed the total transaction count to 5.8 billion and the transaction volume to $33.6 trillion. 

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