Stablecoin Market Reaches $295B Led by Tether and Circle

The stablecoin market has grown to $295.1 billion in value, according to data from Token Terminal.

This growth is largely driven by Tether and Circle, which together hold roughly 87% of the market share. Tether's USDT token has a market cap of $183.2 billion, while Circle's USDC holds $72.2 billion.

The rest of the field trails far behind, with Sky holding $9.6 billion and Paxos at $6.3 billion in market capitalization.