Summary
- It said the stablecoin market is seeing a slowdown in growth, with stagnation continuing among incumbent large stablecoins.
- Centora said declines in the market capitalizations of USDT and USDC are weighing on overall market growth.
- Meanwhile, newer stablecoins such as PYUSD and RLUSD are steadily increasing market share, indicating fund flows within the market.
An analysis suggests that the growth trajectory of the stablecoin market, which had been expanding rapidly through last year, has recently entered a slowdown phase. While incumbent large stablecoins remain stagnant, later-entry stablecoins are being assessed as gaining market share.
On the 27th, on-chain analytics firm Centora said via X (formerly Twitter) that “stablecoins that grew rapidly during 2024–2025 have seen most of their growth momentum flatten since the fourth quarter of last year.”
On a monthly basis, Centora explained that the primary driver of the slowdown lies with incumbent large stablecoins. It noted that “declines in the market capitalizations of USDT and USDC are dragging down overall market growth.”
Meanwhile, newer stablecoins such as PYUSD and RLUSD are increasing their presence. Centora said “these stablecoins continue to expand their market share,” suggesting that some reallocation of funds within the market is taking place.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
