Circle's (CRCL) USDC Gains Versus Tether's USDT

JPMorgan reports that the stablecoin market has grown by 42% in 2025, largely fueled by the GENIUS Act. Circle's USDC has seen a significant increase in its market cap, rising to $74 billion and capturing 25.5% of the stablecoin market. In contrast, Tether's dominance has decreased, dropping from 67.5% to 60.4% this year. The overall stablecoin market, currently valued at nearly $300 billion, now constitutes about 7.5% of the total crypto market cap of $3.8 trillion and represents 1.3% of the U.S. M2 money supply. The stablecoin sector's robust growth is attributed to regulatory advancements and increasing adoption. USDC's rise indicates a shift in market dynamics that could benefit platforms that provide liquidity for various stablecoin issuers.

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