According to the latest data from Artemis Analytics, the global stablecoin trading volume is experiencing a rapid surge in 2025—up 72% year-over-year, with total trading volume surpassing $33 trillion, setting a new all-time high.

What is driving this growth? With the arrival of a crypto-friendly policy environment, the application scenarios of stablecoins in payments, transaction settlement, and cross-border fund flows have expanded significantly. Data shows that USDC issued by Circle remains in the leading position with a trading volume of $18.3 trillion, followed by Tether's USDT with a trading volume of $13.3 trillion. These two giants account for the vast majority of stablecoin market traffic, reflecting a high level of market recognition for these assets.

Interestingly, stablecoins are no longer just trading tools; they are evolving into the most critical infrastructure within the crypto ecosystem. As application scenarios expand and policy environments improve, the importance of stablecoins in the global financial system continues to rise. Industry experts generally believe that this explosive growth in trading volume not only demonstrates the market vitality of stablecoins but also foreshadows upcoming regulatory policies and industry trends.