In 2025, USDC, the second-largest stablecoin, has seen a decline in market share on BitPay, losing ground to Tether’s USDt. After dominating transactions in 2024 with an 85% share, USDC's percentage fell to 56% by May 2025, while USDT rose to 43%. This shift occurred despite Circle's optimistic public launch and regulatory advantages in the EU under the Markets in Crypto-Assets Regulation (MiCA). Tether's USDT not only narrowed the transaction count gap but also led in payment volume, capturing over 70% of stablecoin transactions on BitPay by March 2025. BitPay's chief revenue officer noted that while USDC had nearly double the transaction count of USDT in 2024, it has since declined. Despite this, USDC's market capitalization grew by 88% over the past year, reaching $61.7 billion, while USDT's market value increased by 40% to $158.3 billion. The contrasting regulatory approaches of Tether and Circle further highlight the competitive landscape. Read more AI-generated news on: https://app.chaingpt.org/news

#USDT #USDC