CMSPI - State of the Industry Report - 2025

2 PAYMENT METHOD PROFILES: STABLECOIN

Analysis

Market Cap Shares ( as of July 22, 2025)

34%

26%

6%

8%

66%

60%

Bitcoin

Other Cryptocurrencies

Stablecoins

Tether

Circle

Other Stablecoins

Graph 2.44 743

As shown previously, stablecoin’s market capitalization has grown from $30 billion to $216 billion between late 2020 and early 2025. While this is impressive growth, it only makes up around 6% of total cryptocurrency market capitalization. Below is an overview of the growth of two major cryptocurrencies, Bitcoin and Ethereum, alongside the two major stablecoins, Tether and Circle. Compared to cryptocurrency trends, stablecoins are growing at what seems to be a more predictable, steady pace given their supply and demand is less volatile.

Market Cap Growth

$2,500.00

$2,000.00

$1,500.00

$1,000.00

$500.00

$0.00

Tether Market Cap

Circle Market Cap

Bitcoin Market Cap

Ethereum Market Cap

Graph 2.45 744 745

150

Powered by