ON-377: Stablecoins 💰
Coverage on Sector Overview, USDC, USDe, USDS
📝 Editor’s Note:
Welcome to OurNetwork’s latest.
This week, we’re back checking on the latest in stablecoins, a sector which has only seemed to get hotter this year as it nears $300B, according to our friends at RWA.xyz.
Not to say there haven’t been setbacks. Some stablecoins didn’t live up to their names this week as three stablecoins with $100M-plus market caps depegged by well over 50%.
Still, while there’s been volatility and shuffling among newer stablecoins, the top slot has remained steady with Tether’s USDT having maintained its over 40% market share since 2021.
The stablecoin story is far from over. Let’s get the latest from RWA.xyz, Surf Query, Jordan Jackson, and Alex.
– ON Editorial Team
Sector Overview | USDC | USDe | USDS
👥 rwa.xyz | Dashboard
📈 Stablecoin Market Nears $300B, Up $50B Since July 2025
Stablecoin supply surged $50B since July, reaching nearly $300B. Tether (USDT) and Circle (USDC) dominated with 86% market share, adding $26B (+17%) and $13B (+21%) respectively. Other stablecoins grew $12B (+40%). USDT and USDC’s dominance reflects deep network effects as new stablecoin and tokenized asset pairs are denominated in them, cementing their role as the preferred rails for transfers and on/off-ramps.
