Stablecoins market cap hits an all-time high of $256 billion
The post Stablecoins market cap hits an all-time high of $256 billion appeared on BitcoinEthereumNews.com. The total stablecoins market capitalization surged to an all-time high on Wednesday, data shows that the coins recorded $256 billion, up 22% this year. This surge has been fueled by the US Senate’s approval of the GENIUS Act by a 68-30 vote, marking the first major crypto bill to pass the Senate. Although it still needs approval from the House and President Trump, the bill has made it through the hardest steps. Stablecoin market cap in 5 years Stablecoins have become a core part of the crypto industry. In Q1 2025 alone, stablecoins accounted for 28% of total crypto transaction volume. Meanwhile, USDT continues to dominate the market, accounting for over half of the total market capitalization at 155 billion. USDC follows with a market capitalization of 61 billion. Investors plan to launch more stablecoins As the bill progresses, Trump is getting more personally involved with stablecoins. World Liberty Financial, a crypto company backed by President Trump and his sons, together with BitGo, has launched its own stablecoin that is pegged to the US dollar (USD1). However, the Genius Act bans members of Congress and their families from earning profits from stablecoins, but not President Trump and his family. This omission has irked some Democrats and slowed progress on the legislation this spring. Many big companies, from rumored giant lenders to mega stores, are already thinking about whether to make their own coins. For instance, at a Morgan Stanley conference, Bank of America CEO Brian Moynihan talked about the company’s plans for a stablecoin last week. “We’re working with the industry, working individually,” he said. This month, Bank of America and other large banks got together to discuss the possibility of launching a collaborative stablecoin network. Also, last week, the Wall Street Journal said that Amazon (AMZN) and…
The post Stablecoins market cap hits an all-time high of $256 billion appeared on BitcoinEthereumNews.com.
The total stablecoins market capitalization surged to an all-time high on Wednesday, data shows that the coins recorded $256 billion, up 22% this year. This surge has been fueled by the US Senate’s approval of the GENIUS Act by a 68-30 vote, marking the first major crypto bill to pass the Senate. Although it still needs approval from the House and President Trump, the bill has made it through the hardest steps. Stablecoin market cap in 5 years Stablecoins have become a core part of the crypto industry. In Q1 2025 alone, stablecoins accounted for 28% of total crypto transaction volume. Meanwhile, USDT continues to dominate the market, accounting for over half of the total market capitalization at 155 billion. USDC follows with a market capitalization of 61 billion. Investors plan to launch more stablecoins As the bill progresses, Trump is getting more personally involved with stablecoins. World Liberty Financial, a crypto company backed by President Trump and his sons, together with BitGo, has launched its own stablecoin that is pegged to the US dollar (USD1). However, the Genius Act bans members of Congress and their families from earning profits from stablecoins, but not President Trump and his family. This omission has irked some Democrats and slowed progress on the legislation this spring. Many big companies, from rumored giant lenders to mega stores, are already thinking about whether to make their own coins. For instance, at a Morgan Stanley conference, Bank of America CEO Brian Moynihan talked about the company’s plans for a stablecoin last week. “We’re working with the industry, working individually,” he said. This month, Bank of America and other large banks got together to discuss the possibility of launching a collaborative stablecoin network. Also, last week, the Wall Street Journal said that Amazon (AMZN) and…
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