Stablecoins surpass $200 billion in market capitalization

The market capitalization of stablecoins has reached a historic milestone, surpassing $200 billion for the first time. This growth reflects the growing confidence of investors in stable digital currencies, which offer a safe and efficient alternative for transactions and protection against volatility.

Major stablecoins, such as Tether (USDT) and USD Coin (USDC), continue to lead the market, being widely used in value transfers, trading and international payments.

USDT leads the sector with $140 billion in market capitalization

The stablecoin market reached a historic milestone by surpassing the $200 billion market capitalization in December, according to research data conducted by CCData.

Thus, this was the fifteenth consecutive month of growth, with an increase of 5.51% in the last month alone.

Tether (USDT) remains the clear leader in the sector, with a market capitalization of nearly $140 billion, representing 69.1% of the total stablecoin market.

Year-to-date, the sector has expanded by 56%, reflecting the increasingly central role of stablecoins in the digital economy. With this accelerated growth, the stablecoin market is increasingly attracting the attention of regulators around the world.

Regulation, however, must balance the need for oversight with technological innovation, ensuring security without stifling the sector.

In addition, USDT dominates the trading volume on centralized exchanges (CEX), accounting for 86.3% of transactions.

Close behind, Circle’s USD Coin (USDC) ranks second, surpassing $40 billion in market capitalization, its highest level since 2022. In November, USDC also broke volume records, reaching $219 billion in trades.

Giants such as Stripe, Visa and Mastercard have driven this growth with initiatives that integrate stablecoins into their platforms.

Ethena and USDe: the new force among stablecoins

In this scenario, an innovative solution has shaken up the stablecoin sector. The Ethena protocol, created by former BitMex CEO Arthur Hayes, launched a synthetic dollar, the USDe, backed by operations sold in the derivatives market.

Amidst much distrust, the USDe was initially called “TerraUSD 2.0” due to the risk involved in the project’s architecture. The fact is that Ethena’s synthetic dollar has conquered a large share of the sector and continues to grow.

In addition, its features have attracted the attention of institutional investors and the crypto community, driving the growth of the USDe.

This performance has led the USDe to surpass established stablecoins such as Dai and First Digital USD (FDUSD). With a market capitalization of US$6 billion, according to data from Coingecko. The token now ranks third in the global stablecoin ranking.

USDe’s rapid rise reflects not only Ethena’s technological strength, but also the growing demand for versatile stablecoins in a constantly expanding market. This achievement positions Ethena as one of the main promises for 2025 in the digital finance sector.

Promising future for stablecoins

The record of US$200 billion solidifies stablecoins as one of the fundamental pillars of the crypto ecosystem. Experts predict that the use of these currencies will continue to grow, driven by the mass adoption of decentralized solutions and the search for efficiency in payments.

With their proven utility, stablecoins are set to play an even more important role in the transition to a more inclusive and digital financial system.