The two will explore potential applications of USDC and money market fund token USYC in derivatives exchanges, clearinghouses and other operations.
Early in 2025, there was a significant surge in the stablecoin market, with a $20 billion increase in total supply. With a 10% increase from January, the total supply now stands at almost $205 billion. The spike, according to data from Glassnode, comes after a dip in late 2024, when the supply of stablecoins fell from $187 billion to $185 billion. Related Reading: Bitcoin And S&P Decline Together, But Data Predicts A Turnaround Stablecoins See A Strong Rebound For trading cryptocurrencies, stablecoins—like USDT and USDC—often act as a reserve for investors expecting the right time to buy assets like Bitcoin. The most recent rise shows that investor interest has surged, especially in view of last year’s slow down. Since Jan 1, the aggregate #stablecoin supply has increased by $20.17B (+10.9%), now reaching more than $205B. For comparison, the December peak clocked in at $187B but the supply actually contracted in the last two weeks of 2024 and dropped to $185B by January 2025. pic.twitter.com/gQbdMEDisb — glassnode (@glassnode) March 13, 2025 Given the previous fall, this comeback is especially notable. For most of 2024 the market has been losing stablecoins; but, this trend has lately reversed. Although past patterns suggest that Bitcoin’s price may be impacted, it is unknown whether this increase will lead to a rise in purchases of cryptocurrencies. Bitcoin Investors Watching Closely A growing stablecoin supply is often seen as a bullish sign for Bitcoin. Historically, the price of Bitcoin has risen in line with the stablecoin count. The reasoning is simple: more stablecoins mean more potential capital just waiting to be entered into the market. Some analysts believe this fresh injection could push Bitcoin higher. However, not all stablecoins are used for trading. Many are held for remittances, payments, or as a hedge against inflation, especially in countries where local currencies are unstable. As of today, the market cap of cryptocurrencies stood at $2.65 trillion. Chart: TradingView Stablecoin Exchange Holdings Drop 21% While the total supply is rising, only 21% of stablecoins are currently sitting on exchanges. This is a significant drop from 2021, when over 50% of the supply was available for immediate trading, Glassnode disclosed. This shift suggests that while new coins are being issued, they are not all being deployed into crypto markets right away. Related Reading: TRUMP Token Takedown—Did Insiders Plan The Crash? This could point to one of two possibilities: either stablecoins are being used more often outside of exchanges or investors are still waiting for the suitable moment. Should the latter prove right, the impact on Bitcoin could be less notable than expected. What This Means For Bitcoin’s Future The stablecoin market is currently experiencing a resurgence, which is generally a favorable development for the cryptocurrency sector. However, it is uncertain whether this will result in a short-term increase in the price of Bitcoin. Stablecoin utilization has fluctuated, and additional economic variables will contribute to this development. At the time of writing, Bitcoin was trading at 82,264, down 1.1% and 6.9% in the daily and weekly frames. Featured image from Warwick Business School, chart from TradingView
The first committee approval of a stablecoin bill in this new congressional session now moves the so-called GENIUS Act toward the Senate floor.
The stablecoin issuer acquired Hashnote earlier this year with plans to expand its USYC token as collateral option for institutional investors.
CCTP V2 enables nearly instant USDC transfers between blockchains with new feature, reducing blockchain transaction times from minutes to seconds.
Previously, only bitcoin (BTC), ethereum (ETH), XRP, stellar (XLM) and certain tokens used in the Bank of Thailand’s settlement system were approved.
Stablecoins have surged since the U.S. election amid economic shifts and U.S. Treasury strategy.
A WSJ article delved into the contrasting styles between Tether's Giancarlo Devasini and Circle's Jeremey Allaire.
“It shouldn’t be a free pass, right?” Jeremy Allaire, a co-founder of stablecoin issuer Circle said.
The Dubai Financial Services Authority (DFSA) approved USDC and EURC as recognized crypto tokens within the Dubai International Financial Centre.
USDC and USDT minting accelerated in the past weeks, providing a bullish signal for crypto markets despite declining token prices.
The Senate has pushed stablecoin bills before, but the chamber is now led by Republicans who want to make Hagerty's latest effort happen.
The product allows users to interact with decentralized applications using USDC only, ditching the need for native tokens.
Circle also said it will bring the $48 billion USDC stablecoin to the Canton Network and struck a partnership with crypto market maker Cumberland DRW to provide liquidity for USDC and USYC tokens.
USDC’s massive growth in 2024 marked the stablecoin’s steady recovery following a 45% market cap drop associated with the Silicon Valley Bank collapse in 2023.
Overcollateralized stablecoin issuers like Tether and Circle are collectively the world's 18th-largest buyers of US government debt.
Circle has donated $1 million of its USDC stablecoin to the inaugural committee for President-elect Donald Trump. On Jan. 9, Circle’s CEO, Jeremy Allaire, expressed the company’s excitement about contributing to the growth of what he described as a great American enterprise. Allaire further emphasized the significance of the committee’s accepting payment in USDC, noting […]
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Agora's AUSD is the latest entrant into the burgeoning stablecoin market.
The stablecoin is also more widely distributed across blockchain networks.
Crypto industry executives share with Cointelegraph what they expect for the now $200 billion stablecoin market next year.
A Kaiko and Bitvavo report highlighted the growth of crypto in Europe as regulatory frameworks have emerged in the region.
This week’s Crypto Biz also explores Microsoft’s board’s stance on Bitcoin, JPMorgan’s revision of mining stocks, MARA’s new BTC purchase and upcoming listings of crypto firms.
Binance and Circle established a strategic cooperation on Wednesday to increase adoption and utilization of the USDC stablecoin during an Abu Dhabi press conference. According to Fortune, the cooperation between Binance, the world’s largest cryptocurrency exchange, and Circle, which co-founded USDC with Coinbase, intends to acquire a larger portion of this booming market, especially as […]
Asset manager Bitwise sees the stablecoin market growing to $400 billion next year, with U.S. legislation, fintech adoption and global payments driving the growth.
Binance has formed a strategic partnership with Circle to integrate USD Coin (USDC) across its services, aiming to enhance accessibility and promote adoption. This collaboration also positions USDC as a key corporate treasury asset for Binance, according to an announcement on Dec. 11. Circle CEO Jeremy Allaire highlighted the partnership’s significance, pointing out that two […]
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Pressure mounts on crypto exchanges operating in the country to comply with tighter rules to list stablecoins by the end of this year.
Circle has become the first stablecoin issuer to meet Canada’s new listing requirements for its USD Coin (USDC), marking a significant milestone amid ongoing reports of layoffs within the company. In a Dec. 4 post on X, Circle CEO Jeremy Allaire announced that USDC is the first of the top dollar-backed stablecoins to comply with […]
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The job cuts amount to about 50 people, based on June employment numbers.
By January 2025, Dtcpay will drop support for Bitcoin and Ether to focus on stablecoin payments exclusively.
Some Coinbase users are airing frustration at the region’s MiCA laws, which is forcing the exchange to stop offering yield on USDC in the European Economic Area.