The USDC remains for Circle’s and Tether Usdt are the two best stablecoins. In 2025, USDC shows signs of strong growth and market share. However, it is still tracks behind the market leader, USDT.
This article is examined the main data on USDC from the latest Kaiko report and the USDC evaluation in the very stablecoin market.
Can USDC exceed USDT on central exchanges?
According to a report issued by Kaiko Research, USDC amounted to a new record in trading volume of $ 219 billion in April 2025. This number is more than more than 106.5 billion dollars registered in January 2024.
Binance, the world’s biggest encryption exchange, play a decisive role. Thanks to a strategic agreement SNomadD With Circle in December 2024, more than 57 % of the global trading volume in USDC.
Kaiko Data It indicates that the USDC market share between Stablecoins on Binance increased from 10 % at the end of last year to nearly 20 % today.
In contrast, the USDT market share on Binance decreased from 75 % at the end of 2024 to about 60 % today.
Two main factors explain this impressive growth in the size and share of USDC. First, the partnership with Binance gave access to USDC to a large user base.
Second, USDC has benefited from the increasing demand for the organization compatible with the organizational compatible, especially in Europe, where the MICA frame is now valid.
“The deal is also very profitable for Binance, as Circle pays more than $ 60 million in advance in addition to ongoing incentives, with compliance with Binance compliance under MICA in Europe.” Kaiko I mentioned.
In addition, when comparing the changes in size between USDC and USDT during the same period, USDC stands out as a stronger performance.
Since November 2024, the monthly USDT volume decreased by 49 %. In contrast, the USDC volume increased by 16 %.
“While USDC is gaining momentum in central exchanges, USDT is facing the opposite winds. USDT trading sizes have decreased sharply … which reflects a wider contraction in the presenter trading activity in US dollars. This decrease reflects the continuous feelings of risks, and the weakest retail sharing, and limited limited in encrypted signs.” – Kaito explained.
Despite the growth of USDC, he still has a long way before catching up with US dollars. As of May 2025, the USDT market value is 152 billion dollars2.3 times higher than the market ceiling in July 2022.
Meanwhile, the maximum USDC market is 60 billion dollarsOnly 12 % of the July 2022 level.
Tether, the company behind Usdt, also mentioned outstanding profits. She got 13 billion dollars in 2024, compared to $ 155 million from Sirkel during the same year. In addition, USDT still dominates applications outside the exchange, especially in the cross -border payments.
USDC and USDT are still the best stablecoins. However, Stablecoin space can quickly change with the appearance of new competitors. The major financial institutions such as Paypal, World Liberty Financial, Fidelity, Ripple, Blackrock and Meta have entered the competition.
Disintegration
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