Key takeaways
The stablecoin market has grown by $76 billion since late 2024, following Trump’s election and the GENIUS Act. USDT and USDC now play a central role in fueling liquidity and market activity, with companies like Circle leading the charge.
The stablecoin market has swelled by $76 billion since late 2024, bringing fresh liquidity to crypto. Powered by new regulations and big corporate moves, Tether [USDT] and Circle [USDC] are making way for the market’s next growth run.
Post-election momentum and regulatory clarity
Since Donald Trump’s November 2024 election win, the combined market cap of USDT and USDC has risen by $76 billion, according to Matrixport.
Tether’s USDT climbed from $120 billion to $165 billion, while Circle’s USDC jumped from $34 billion to $65 billion. This growth in just two stablecoins proves confidence in their expanding role as a key liquidity driver for crypto.
Momentum accelerated after Trump signed the GENIUS Act on 18 July 2025 – The first U.S law for payment stablecoins. By setting clear rules for issuance and reserves, it has paved the way for mainstream adoption.
Major financial firms are now preparing to launch USD-backed tokens to tap the fast-growing market for payments, settlements, and cross-border finance.
Big moves, bigger implications
Circle has been quick to ride the stablecoin wave. Its June IPO raised $1.2 billion at $31 per share. And, despite a $482 million net loss from IPO-related charges, its stock has since surged to around $163.
The company’s revenue and reserve incomes jumped by 53% year-on-year to $658 million. In fact, it plans to launch the Arc Layer 1 blockchain later this year to expand stablecoin use in payments, markets, and FX.
Tether, meanwhile, is keeping its cards close, with no plans to go public.
This influx of capital could fuel higher trading activity and lift asset prices, positioning stablecoins as a central force in the next market cycle. With regulations in place and corporate strategies unfolding, their influence on crypto’s growth trajectory is only set to increase further.
