Stablecoin market revenue report 2025

Key Points:* Tether leads stablecoin issuer revenue at $6.56 billion.

• Total stablecoin revenue reaches $10 billion.
• Market profitability drives sector growth and expansion. Stablecoin issuers earn $10B revenue, boosting Tether and Circle’s market impact.

With increased profitability, stablecoins bolster the blockchain ecosystem, promoting liquidity and enabling efficient decentralized finance (DeFi) operations. Market capitalization peaked at $228 billion due to growing interest.

Stablecoin Market Surpasses $10 Billion in Issuer Revenue

Stablecoin issuers, led by Tether, generated nearly $10 billion in revenue, as reported by ChainCatcher. Tether amassed $6.56 billion, Circle earned $1.89 billion, Sky Protocol received $384 million, and Ethena made $332 million.

Tether’s dominance prompted diverse market reactions. Analysts cite favorable US regulations and broader adoption as key influencers. ChainCatcher continues to promote blockchain development through industry events.

ChainCatcher, Industry Organizer – “Crypto 2025 focuses on resolving the industry’s recent ‘deadlock’—a stagnation caused by regulatory obstacles, scalability challenges, market volatility, and delayed tech adoption.” ChainCatcher Event Description

Tether’s Dominance and Regulatory Favorability Mark New Era

Did you know? The stablecoin market cap hit a $228 billion high, driven by trading activity and favorable U.S. regulations.

According to CoinMarketCap, Tether USDt (USDT) remains consistently priced at $1.00. With a market cap of $158 billion and a 4.70% market dominance, USDT’s 24-hour trading volume reached $84 billion, reflecting a 40.49% uptick, while its circulating supply stands at 158 billion tokens as of July 3, 2025.

Tether USDt(USDT), daily chart, screenshot on CoinMarketCap at 00:49 UTC on July 3, 2025. Source: CoinMarketCap Coincu research highlights that stablecoin growth should continue due to favorable US regulations and rising DeFi adoption. Historical trends indicate sustained stability in the stablecoin market, underpinning blockchain liquidity and expansion opportunities.

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