The market capitalization of stablecoins increased by approximately 22% in H1 2025 amid institutional demand, regulatory shifts, and expanded use of stablecoins as a payment tool.
According to Binance Research’s half-year report, the total crypto market cap grew by 1.99% in the first six months of 2025. Meanwhile, the stablecoin market cap exceeded $250 billion, reaching a new ATH in May.
Analysts note that demand for stablecoins shifted from speculative trading to real payment and settlement use cases. In 2025, TradFi organizations actively test stablecoin usage and integrate them into operational processes, while also expressing interest in issuing their own stablecoins.
The report states that USDT and USDC remain the leaders, collectively covering about 92% of the segment. USDC’s share grew to about 25% thanks to obtaining a MiCA license, while USDT retains leadership due to deep liquidity and presence on high-throughput blockchains. For example, 51% of USDT volume is on TRON, whereas Circle fully withdrew support from that network.
The report also cites Visa Stablecoin Dashboard data, showing that adjusted stablecoin transaction volume reached a historic peak of $749 billion in May 2025, rising to $886.4 billion in June. According to Artemis data as of February 2025, USDT accounted for 86.1% of payment transactions and USDC for 13.9%. USDT remains the leader in active addresses, used by 73–75% of market participants.
Binance Research analysts argue that the main catalyst for stablecoin capitalization growth in H1 2025 was increased demand for liquid instruments amid a heterogeneous global macroeconomic environment. Regulatory developments were a key structural factor — the implementation of MiCA in the EU, the adoption of the GENIUS Act in the U.S., licensing processes for stablecoin issuers and approval of stable asset legislation in Hong Kong, regulatory policy changes in Singapore, issuance of institutional stable assets in Dubai, and other government initiatives positively influenced global stablecoin market metrics.
The report also highlights other key crypto market indicators recorded in H1 2025:
- Bitcoin price rose about 13%, hitting a new ATH, with the market cap exceeding $2 trillion. Inflows to spot Bitcoin ETFs reached $13.7 billion. BTC dominance reached 65.1%.
- The total value locked (TVL) in DeFi reached $151.5 billion, down 5.8% since the start of the year, while monthly active addresses exceeded 340 million, a 240% increase from last year.
- About 29% of Ethereum’s circulating supply (35.4 million ETH) was staked following the successful Pectra hard fork. Ethereum’s ecosystem remains the main center of institutional capital with $89.4 billion TVL. Restaking solutions are actively developing.
Binance Research estimates that growth prospects for the stablecoin and overall crypto markets in H2 2025 depend on several factors, including:
- Fed easing amid inflation decline and labor market softening in the U.S.;
- the U.S. shifting from enforcement to proactive regulation;
- expanded stablecoin use in payment services and by large retail market players;
- development of secondary markets for tokenized real-world assets (RWA);
- use of Bitcoin as collateral for government reserves.
Previously, Max Krupyshev, CEO of CoinsPaid, noted that companies increasingly adopt stable digital assets as convenient and understandable settlement tools. “Stablecoins provide stability, flexibility, and easy integration, becoming a new universal payment instrument. About 86% of companies see them as a way to modernize traditional financial systems,” Max stated.
Сообщение Stablecoin Market Cap Grew by 22% in H1 2025 появились сначала на CoinsPaid Media.
