#Crypto World
Fiat-Backed Stablecoin Market Cap Climbed by
+$97B Between 2024 - 2025
Ending April at a New All Time High of $224.9B
Fiat-backed stablecoins climbed by +76% between 2024 - 2025 minting an additional +$97 billion reaching an all-time high of $224.9 billion amidst the crypto bull cycle
The growth in stablecoin market cap can mainly be attributed to USDT and USDC, which added +$56.3 billion and +$37.6 billion to their respective market caps
Together they comprise 93.5% of all fiat-backed stablecoins in circulation
USDtb by Ethena and USD0 by Usual were the most successful new entrants in the past 12 months ending April 2025 with a $1.4 billion and $0.6 billion market cap respectively making them the #4 and #6 largest fiat-backed stablecoins within a few months of launch
Unfortunately!
TradFi-launched stables such as PayPal’s PYUSD and SocGen’s EURCV have fared less well though more are rumored to be launched once there is US regulatory clarity