Tether moves $140 billion every day, more than the GDP of many countries. And it’s not alone – many stablecoins like USDC and DAI and newcomers like Ethena USDe have become pillars of the crypto ecosystem.
Stablecoins play a key role in crypto: They offer price stability, cross-border transactions at speed, and for some, fiat-backed confidence. For crypto investors, choosing the right stablecoin can impact yield farming and trading and transaction fees.
To get started in crypto, you’ll need access to the best crypto exchanges that support major stablecoins and offer tools for trading and storing your assets securely.
The largest and most popular stablecoins in 2025
The table below shows the largest stablecoins by market capitalization as well as their daily volume and circulating supply as of July 10, 2025.
Rank | Stablecoin | Market Cap | Daily volume | Circulating supply |
|---|---|---|---|---|
1 | Tether (USDT) | $181,921,595,302 | $140,722,746,541 | 181.87 billion USDT |
2 | USDC (USDC) | $75,978,607,108 | $16,667,670,407 | 75.98 billion USDC |
3 | Ethena USDe (USDe) | $11,874,037,723 | $429,703,138 | 11.88 billion USDe |
4 | Dai (DAI) | $5,364,812,227 | $116,250,432 | 5.36 billion DAI |
5 | PayPal USD (PYUSD) | $2,733,700,807 | $95,348,645 | 2.73 billion PYUSD |
6 | World Liberty Financial USD (USD1) | $2,687,990,881 | $375,958,598 | 2.68 billion USD1 |
7 | First Digital USD (FDUSD) | $1,011,707,647 | $6,815,500,079 | 1.01 billion FDUSD |
8 | Ripple USD (RLUSD) | $874,059,348 | $87,762,198 | 873.99 million RLUSD |
9 | TrueUSD (TUSD) | $492,965,294 | $45,925,544 | 494.51 million TUSD |
10 | USDD (USDD) | $465,511,358 | $4,068,338 | 465.25 million USDD |
About the Author
Jack Caporal has positions in PayPal. The Motley Fool has positions in and recommends PayPal and Visa. The Motley Fool recommends the following options: long January 2027 $42.50 calls on PayPal and short December 2025 $75 calls on PayPal. The Motley Fool has a disclosure policy.