{"id":50285,"date":"2025-09-30T14:16:59","date_gmt":"2025-09-30T14:16:59","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=50285"},"modified":"2025-09-30T14:16:59","modified_gmt":"2025-09-30T14:16:59","slug":"stablecoin-market-surges-on-u-s-regulation-with-circles-usdc-gaining-ground-jpmorgan","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=50285","title":{"rendered":"Stablecoin Market Surges on U.S. Regulation, With Circle’s USDC Gaining Ground: JPMorgan"},"content":{"rendered":"
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JPMorgan analysts said the stablecoin market has pulled ahead of the broader crypto ecosystem this year, fueled in part by the passage of the U.S. GENIUS Act.<\/p>\n

At nearly $300 billion, the market has grown 42% year-to-date, nearly double the 21% growth of crypto overall, according to a report published Tuesday.<\/p>\n

The report notes that stablecoins now make up about 7.5% of the $3.8 trillion total crypto market cap and roughly 1.3% of the U.S. M2 money supply, up 35 basis points since the start of the year.<\/p>\n

Stablecoins are cryptocurrencies<\/a> whose value is tied to another asset, such as the U.S. dollar or gold. They play a major role in cryptocurrency markets, providing among other things a payment infrastructure, and are also used to transfer money internationally.<\/p>\n

Since the GENIUS Act was signed<\/a> on July 18, the stablecoin market cap has climbed 19%, underscoring how regulation has accelerated adoption, according to the bank.<\/p>\n

The biggest beneficiary appears to be Circle’s (CRCL) USDC. JPMorgan analysts noted that after stagnating earlier in the year, its market cap has surged in the third quarter, rising from $61.5 billion at the end of June to $73.7 billion by late September, giving it a 25.5% share of the stablecoin market, up about 400 basis points in 2025.<\/p>\n

Tether, meanwhile, has seen its dominance shrink, dropping from 67.5% at the start of the year to 60.4%, the bank said. Ethena\u2019s synthetic stablecoin USDe has also gained ground, growing to $14.4 billion in circulation and securing a 5% share.<\/p>\n

For years, USDT and USDC have defined a duopoly in the dollar stablecoin market, but that balance is shifting. JPMorgan said USDC has steadily eaten into Tether\u2019s lead, now commanding nearly 30% of the two coins\u2019 combined share, up from 24% at the start of the year. <\/p>\n

The GENIUS Act may be tilting momentum further toward Circle, the analysts said, though a more fragmented market could ultimately benefit platforms like Bullish (BLSH) that provide liquidity services for a growing roster of stablecoin issuers.<\/p>\n

Bullish is the owner of CoinDesk.<\/p>\n

Read more: U.S. Stablecoin Battle Could Be Zero-Sum Game: JPMorgan<\/span><\/a><\/em><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

JPMorgan analysts said the stablecoin market has pulled ahead of the broader crypto ecosystem this year, fueled in part by the passage of the U.S. GENIUS Act. At nearly $300 billion, the market has grown 42% year-to-date, nearly double the 21% growth of crypto overall, according to a report published Tuesday. The report notes that […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-50285","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/50285","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=50285"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/50285\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=50285"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=50285"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=50285"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}