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Cryptocurrency News Articles

The Market Capitalization of Stablecoins Has Jumped by $37.6 Billion Since U.S. President Donald Trump's Electoral Victory in November

Feb 01, 2025 at 02:21 am

A new report from on-chain analytics provider CryptoQuant has revealed that the total value of USD-denominated stablecoins in circulation has jumped

The Market Capitalization of Stablecoins Has Jumped by $37.6 Billion Since U.S. President Donald Trump's Electoral Victory in November

The market capitalization of stablecoins has increased by $37.6 billion since U.S. president Donald Trump’s electoral victory in November, according to a new report.

The total value of USD-denominated stablecoins in circulation has reached a new record high since the announcement on Nov. 6, according to the report by on-chain analytics provider CryptoQuant.

The report tracks the total market cap of Tether (USDT), USD Coin, Binance USD, True USD, Pax Dollar, and DAI, which collectively hit $204 billion — a 22 percent rise in value in the 86 days since Trump's victory.

According to the data, Tether deposited on centralized exchanges has been a major driver of stablecoin liquidity, with the figure growing by 41 percent from $30.5 billion on Nov. 4 to $43 billion on Jan. 31.

The stablecoin market cap is an important metric for gauging market activity because it acts as an important source of liquidity for trading on exchanges and its growth typically correlates with higher crypto prices, which motivate retail traders to become more active in the market, the report noted.

The data also showed that USDC has grown strongly over the same period, second only to USDT.

“The expansion of liquidity via stablecoins continues to be driven by Tether’s USDT, but Circle’s USDC has regained traction,” an excerpt from the report reads.

“The market capitalization of USDT is $139 billion today, up by $19 billion (15%) since November 4. Meanwhile, USDC’s market capitalization has started to increase significantly again, rising by $17 billion (48%) over the same period. USDC’s market capitalization is now $52.5 billion.”

CryptoQuant analysts believe that the booming stablecoin market could be a signal that the next significant upward movement for Bitcoin (BTC) and crypto prices could be imminent.

“Booming stablecoin market might be signaling the next big crypto rally soon,” the report concludes.

“The liquidity impulse, which measures the 30-day percentage change in market capitalization is now a roaring 20 percent for USDC, while USDT is once again slightly positive following a brief contraction at the start of 2024.”

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