Introduction

This article provides an in-depth analysis of USDC's market capitalization performance in 2025 and the changes in the stablecoin market landscape. It explores the reasons behind USDC's market capitalization surpassing 60 billion USD, including regulatory compliance and the influx of institutional funds. By comparing the declining trend of USDT's market share, it reveals USDC's expansion in applications within exchanges and the DeFi sector. The article offers comprehensive insights into USDC's development for cryptocurrency investors, financial institutions, and market analysts.

USDC market capitalization explodes: may exceed 100 billion USD by 2025

As the world's second largest stablecoin, USDC has shown significant growth in market capitalization by 2025. As of May 2025, the market capitalization of USDC has reached 61.7 billion USD, an increase of approximately 10% compared to the same period in 2024. This growth trend indicates that USDC's position in the cryptocurrency market is increasingly solidifying, and its importance as a stablecoin is continuously rising. The growth in USDC's market capitalization is primarily attributed to its widespread use in the Web3 ecosystem and the preference of institutional investors for it.
As of May 2025, the circulating supply of USDC has reached 61.687 billion coins. Compared to other major stablecoins, the market capitalization share of USDC is also steadily increasing.

Regulatory compliance has become a key driver for the rise of USDC.

The market capitalization growth of USDC is closely related to its efforts in regulatory compliance. Regulatory compliance has not only enhanced institutional investors' confidence in USDC but also paved the way for its application in traditional finance. For example, some large banks have begun to incorporate USDC into their cross-border payment solutions, further driving the market capitalization growth of USDC.

Is USDT's dominance being shaken? The market landscape is quietly changing.

Although USDT still maintains its market leadership, USDC's market share has reached 1.78%, showing strong growth momentum. This change in market dynamics reflects the increasing demand from investors for more transparent and regulated stablecoins.
The use of USDC on exchanges is also showing a growth trend. According to data from Kaiko, the trading volume of USDC on major exchanges increased from 1% at the beginning of 2024 to 6.8% in May 2025. This growth is partly attributed to USDC trading incentive programs launched by some exchanges and the increased application of USDC in the perpetual contract market.

Conclusion

The rapid growth of USDC's market capitalization highlights its rise in the stablecoin market. Regulatory compliance, institutional capital influx, and wide application within the Web3 ecosystem have jointly propelled the development of USDC. As the market landscape changes, USDC is gradually narrowing the gap with USDT, demonstrating strong growth potential.
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