Stablecoin revenue surpasses US$$ 664 million driven by Tether

The cryptocurrency market ended 2024 with a spotlight on stablecoins, which demonstrated their importance and revenue-generating potential. In December, stablecoin issuers recorded revenues exceeding US$$ 660 million, with Tether, the issuer of USDT, leading the performance ranking.

Data from DeFiLlama reveals that stablecoin issuers were responsible for 43.66% of total on-chain revenue, which reached US$$ 1.5 billion in the period.

Analyzing the numbers further, stablecoin issuers accumulated more than US$$ 664 million in revenue. Tether and Circle, the issuer of USDC, stood out with $$ 532.10 million and $$ 132.77 million, respectively. This concentration of revenue in the two largest issuers is not surprising, considering that they hold over 90% of the stablecoin market share. Tether’s dominance, even with a slight decline towards the end of 2024, remains impressive and demonstrates users’ confidence in USDT. #usual