Can USDC Catch Up? Stablecoin Market Heats Up as Tether Holds the Top Spot

• Tether leads the stablecoin market, reaching $144.55B, but Circle’s USDC is growing rapidly.
• USDC’s market cap hit $60.32B by April 2025, driven by increased demand and DeFi adoption.
• The stablecoin market shows resilience, with growing competition between Tether and USDC.

Stablecoins have experienced an exponential rise over the past few months, with Tether’s USDT maintaining its position as the market leader. However, Circle’s USDC, although relatively new, has rapidly gained market share. Both stablecoins have witnessed a steady increase in market capitalization since mid-2024. Further, the stablecoins remain less volatile, compared to other market fluctuations, and still see a strong demand.

In an X post on Tuesday, Matrixport revealed that Tether’s market capitalization has remained relatively stagnant over the last year, achieving roughly $144.55 billion as of April 2025. Notably, Tether is considered the most popular stablecoin since it offers investors a reliable way to avoid market volatility. With its large market cap, Tether reflects the trust that users have placed in USDT as a stable cryptocurrency.

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