Several crypto exchanges are entering the stablecoin market to create their own digital dollar substitutes, as Tether's dominance decreases.
The stablecoin market is becoming increasingly competitive, with Tether facing challenges from other industry players like Circle’s USD Coin (USDC), Ethena’s USDe, and Dai (DAI).
Tether has enjoyed a strong position in the market, growing from under $1 billion in value to approximately $142 billion. However, as newer alternatives like USP gain visibility and functionality, there is potential for a redistribution of market share among existing stablecoins.
Tether co-founder, Reeve Collins, is launching a decentralized stablecoin, USP, via Pi Protocol, which will operate on the Ethereum and Solana blockchains.
The value of stablecoin transactions reached $15.6 trillion in 2024, surpassing Visa and Mastercard. There are over $225 billion worth of stablecoins in circulation.
Stablecoins have become a core component of the crypto ecosystem and are impacting the market during the 2025 bull run.
Institutional investors favor stability and liquidity, leading to stablecoins taking center stage in altcoin buying selling.
The supply of Stablecoin could reach $325 billion by the end of 2025 and potentially $400 billion with increased venture capital interest.
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