- Growth in stablecoin supply is rising but at a slower pace, with year-on-year increases for USDT and USDC peaking in October.
- Coinbase CEO Brian Armstrong remains optimistic about stablecoins due to the regulatory clarity from the GENIUS Act.
- Over $5 trillion in stablecoin transactions were recorded in the last 30 days, with retail payments representing a small portion.
- Institutional involvement in stablecoin adoption is increasing, with over 120 organizations accepting stablecoin payments after recent regulation changes.
Growth in the supply and institutional demand for stablecoins continues, though the rate of increase has slowed in recent months. New data from Matrixport shows that year-on-year growth for major stablecoins such as USDT and USDC peaked in October before declining, pointing to weakening liquidity support for cryptocurrency markets.
On Monday, Coinbase CEO Brian Armstrong expressed continued confidence in the future of stablecoins, referencing an interview on CNBC and emphasizing regulatory clarity brought by the GENIUS Act. Armstrong noted in a post that stablecoins remain significant for global payments and suggested that 2025 could serve as a pivotal year for the crypto industry due to clearer rules.
Despite slowing growth, stablecoins remain widely used. According to Allium data cited by VISA, transaction volume for stablecoins surpassed $5 trillion in the past 30 days, but only a small share of that volume came from retail transactions.
Consumer sentiment towards USDT and USDC remains bearish in online forums such as Stocktwits, with activity levels at normal or low levels over the last day.
Armstrong highlighted that USD Coin (USDC), which Coinbase develops with Circle, remains the fastest-growing regulated stablecoin this year. He also stated that clearer regulations have allowed more businesses to accept stablecoin payments. Since recent changes in the law, more than 120 companies have announced they will accept payments in stablecoins. In addition, 264 organizations, including banks and fintech companies, have joined Coinbase‘s developer platform, which offers “crypto as a service.”
On Monday, Coinbase (COIN) closed at $250.42, falling 6.37% from its previous close. Retail sentiment for COIN shifted from bullish to neutral over the past day in online discussions.
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