The total market capitalization of stablecoins has crossed US$300 billion for the first time, reaching a record high amid increased activity in cryptocurrency markets.

Data from DeFiLlama shows stablecoins now have a combined value of US$301 billion, a rise of 2% in the past week and 6.5% over the last 30 days.

Tether’s USDT leads the sector with a US$176.3 billion market cap and a 58% share, followed by Circle’s USDC at US$74 billion, Ethena’s USDe at US$14.8 billion, and MakerDAO’s DAI at US$5 billion.

Stablecoins, which are pegged to fiat currencies like the US dollar, are widely used for trading, payments, and as a store of value during volatile periods.

This increase comes as Bitcoin and Ethereum posted strong gains in Q3 2025, with Bitcoin up 9.6% over the past week to US$119,972 and Ethereum up 13.3% to US$4,498.57.

🔗 Source: The Block