According to the latest data from defillama.com, the stablecoin market continued its steady rally in October, gaining 2.47% despite shedding $1.84 billion over the past week. Tether (USDT) was the leading stock, increasing its market capitalization by approximately $7.78 billion in one month.
October stablecoin snapshot: who's up, who's down, and who's still dominant
USDT continues to reign supreme, and according to DeFirama statistics, USDT has reached a huge market capitalization of $183.35 billion, with a monthly appreciation rate of 4.43%. It currently accounts for 59.69% of the stablecoin sector's total value of $307.175 billion.
This week, Circle's USDC had a high-profile moment, finally passing the $75 billion milestone. The runner-up stablecoin recorded $1.744 billion, an increase of 2.36%, reaching a cap of $75.51 billion.
Etena's USDe plummeted in October, dropping 36.57% to settle at $9.36 billion after suffering a massive loss of $5.39 billion in just one month. Sky Dollar (USDS) had a bright spot, surging 21.67% to $5.19 billion, while DAI was little moved, increasing 0.61% to $5.19 billion.
World Liberty Financial's USD1 rose 11.08% to $2.98 billion, adding to the glamor. Paypal's PYUSD also joined in the rally, rising 14.82% to $2.81 billion. According to Defillama, Blackrock's BUIDL increased by 2% to total $2.59 billion.
Falcon USD (USDf) surged 24.35% to $2.02 billion, while Ethena's USDtb was little moved, rising 0.17% to $1.83 billion. Global Dollar (USDG) rose 37.84% to $991.35 million, while Ripple's RLUSD also rose 21.97% to $963.09 million to round out the top 12.
Overall, the stablecoin sector has seen a mix of steady gains and sharp declines in October, with USDT and USDC gaining dominance. While Ethena's USDe has stumbled, several competitors such as USDG and RLUSD have posted eye-catching growth.
This month's movements highlight how capital continues to flow across the stablecoin spectrum even amidst the changing market tides we have seen recently.
Frequently asked questions ❓
- What is the total value of the stablecoin market?
The global stablecoin market is valued at approximately $307.175 billion as of October 2025. - Which stablecoin holds the largest market share?
Tether (USDT) leads the pack with 59.69% of the total stablecoin market. - What is Circle’s USDC value currently?
USDC's market capitalization recently exceeded $75 billion. - Which stablecoin had the biggest decline in October?
Ethena's USDe fell by 36.57%, losing more than $5 billion in value.
