- •Stablecoin market cap exceeds $300B for the first time
- •USDT dominates with over 58% market share
- •USDe grows rapidly as top yield-bearing stablecoin
According to fresh data from DeFiLlama, the total market capitalization of stablecoins has crossed $300 billion for the first time in history. This landmark signals not only the growing utility of stablecoins in the crypto ecosystem but also increasing investor confidence in digital dollar‑backed assets.
Leading the charge is Tether (USDT), which holds a massive 58.44% market share, with a total value of $176.256 billion. USDT has long been the backbone of on‑chain liquidity, trading pairs, and cross‑exchange transfers.
Second on the list is USD Coin (USDC), which has surpassed $74 billion in market cap. Despite facing competition from newer entrants, USDC remains a preferred choice among institutions due to its transparency and regular audits.
USDe Emerges as a Strong Contender
One of the most notable developments in this stablecoin surge is the rapid rise of USDe, a yield‑bearing stablecoin that now boasts a market cap of $14.83 billion. As DeFi continues to evolve, interest‑bearing stablecoins like USDe are gaining traction among users who want stability with passive income opportunities.
USDe’s growth reflects a broader shift toward more utility‑focused digital dollars, combining the benefits of price stability with yield‑generation, particularly in decentralized finance protocols.
According to DeFiLlama data, the total market capitalization of stablecoins has surpassed $300 billion for the first time in history. USDT accounts for 58.44% at $176.256 billion; USDC exceeds $74 billion; and the third‑largest yield‑bearing stablecoin, USDe, stands at $14.83… pic.twitter.com/LVXey9R6WK
— Wu Blockchain (@WuBlockchain) October 3, 2025
What This Means for the Crypto Market
Crossing the $300 billion threshold marks a major milestone for stablecoins. It highlights their growing role not just as trading tools but as foundational infrastructure in DeFi, payments, and on‑chain finance.
As stablecoins become more embedded in real‑world use cases—like remittances, savings, and on‑chain treasuries—their influence on the crypto economy will only continue to grow. Analysts view this trend as a strong signal of maturity in the market, with stablecoins offering a bridge between traditional finance and blockchain innovation.