Whereas crypto markets had been fairly risky in August and bitcoin misplaced 6.49% in the course of the month, the stablecoin economic system grew by greater than $17 billion.
Stablecoins Soar by $17B in August Regardless of Crypto Market Chaos
As of Sept. 2, 2025, defillama.com information reveals the fiat-pegged, U.S. dollar-driven crypto economic system holds a price of $284.558 billion. On Aug. 1, it measured $267.091 billion, reflecting progress of $17.467 billion since then. About $3.2 billion of that enhance got here from tether ( USDT), which carries a market cap close to $167.97 billion, representing 59.03% of the stablecoin market’s whole price.
Stablecoin economic system stats in keeping with defillama.com on Sept. 2, 2025.
Round $7.98 billion of the rise got here from Circle’s USDC, which now instructions a market cap of roughly $71.85 billion. Ethena’s USDe gained notable momentum over the previous month, with its provide climbing greater than 41% to $12.403 billion. USDe recorded inflows of roughly $3.65 billion, in keeping with defillama.com’s stablecoin metrics.
Apparently, Sky’s DAI grew by $880 million in August, marking an increase of simply over 20%. Sky’s USDS declined by roughly $300 million, leaving its market cap at $4.511 billion. In the meantime, World Liberty Monetary’s USD1 climbed by $349 million in August, a acquire of 16%. Blackrock’s BUIDL dipped 0.6% in August, with $14 million in outflows pulling its market cap all the way down to $2.384 billion.
Rounding out the highest ten, Ethena’s USDtb rose by $72 million, Falcon Finance’s USDf added $146 million, and Paypal’s PYUSD climbed $162 million because the begin of August. USDtb now holds a market cap of about $1.509 billion, USDf is valued at roughly $1.234 billion, and PYUSD sits at $1.175 billion.
Paypal’s stablecoin crossed the $1 billion mark in mid-August, and its total market cap now stands at an all-time excessive. Over the past 30 days, Artemis Terminal stablecoin information reveals adjusted transaction quantity jumped over 92% to hit $3 trillion.
Stablecoin stats in keeping with Artemis Terminal on Sept. 2, 2025.
The variety of transactions additionally climbed 16.9% to 1.2 billion, exhibiting that exercise is heating up throughout a number of chains. In the meantime, distinctive stablecoin addresses grew by nearly 1 / 4, reaching 41.7 million. Longer-term information reveals how Ethereum and Tron have cemented themselves because the spine of stablecoin liquidity.
Since late 2023, provide has surged to all-time highs, with Ethereum main by a large margin and Tron holding regular because the second-largest base for stablecoins. Rising gamers like Arbitrum, Base, Aptos, and TON are step by step carving out slices of the pie, however the market stays overwhelmingly targeting Ethereum and Tron, which collectively anchor an excessive amount of the $280 billion-plus ecosystem.
