Tether and Circle generate $664 million in December revenue commanding stablecoin market

exchange68January 3, 2025

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The crypto industry saw significant on-chain revenue in December, with stablecoin issuers taking the lion’s share, according to data from DeFiLlama.

These issuers collectively earned over $664 million, representing over 40% of the $1.5 billion total revenue generated by crypto protocols.

Tether, the USDT stablecoin issuer, emerged as the top contributor, pulling in $532.10 million. Circle, the USDC issuer, followed with $132.77 million.

Together, these two issuers dominate the stablecoin sector, accounting for nearly 90% of the market, which is valued at over $200 billion.

Stablecoins continue solidifying their role as one of the most practical crypto products. Their price stability shields users from the volatility typical in other digital assets, making them a preferred choice for traders and a gateway to the US dollar in emerging markets.

Market predictions suggest that the stablecoin market could grow to $400 billion by 2025, presenting substantial profit opportunities that have attracted new entrants like Ripple and BitGo.

Analyst

Oluwapelumi Adejumo

Journalist at CryptoSlate

Oluwapelumi values Bitcoin’s potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.

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