Who would have ever dreamed that stablecoins would become the most successful application of blockchain technology after Bitcoin? In recent years, it has of course only been about smart contracts, decentralized finance (DeFi) and Non-Fungible Tokens (NFTs), but ultimately stablecoins seem to be the most successful application.
The total market value of these coins has now exceeded 200 billion dollars, and growth appears to be far from over.
Next step: $300 billion
The next step for the stablecoin market is to reach a market cap of $300 billion. According to Guy Young, founder of stablecoin protocol Ethena, 2025 will also be a big year for stablecoins.
“I expect we will go past $300 billion, and Tether will continue to dominate, and the rest of the market will be challenged by new fintech companies and Web2 market participants coming up with their own coins,” Young told Cointelegraph .
For the time being, Tether is clearly the absolute king of the market with its market cap of almost $140 billion, while USDC follows in second place with $43 billion.
It will then take a very long time before we encounter the next stablecoin with Ethena USDe with a market cap of 5.9 billion dollars.
Tether and USDC remain dominant
According to Ailona Tski of Alchemy Pay, Tether (USDT) and USDC are unlikely to be dethroned by 2025, as they have already established themselves as crucial tools for global transactions.
She also sees the adoption of USDT and USDC increasing in emerging economies, and the use of stablecoins in decentralized applications will also increase.
“Fiat stablecoins like USDT and USDC are likely to maintain their dominance, due to their established reliability, liquidity, and the broad ecosystem of users and businesses that rely on them,” Tski said.
Coinbase, a shareholder in USDC, also sees a great future for stablecoins. They expect the market to continue to grow through 2025, with the market value of stablecoins eventually increasing to around $3 billion.
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Source: https://newsbit.nl/stablecoins-in-2025-wat-te-verwachten-van-deze-markt-van-200-miljard/
