Рекордный рост стейблкоинов: $45 млрд за третий квартал в центре крипторынков Translation: Record Growth of Stablecoins: $45 Billion in the Third Quarter at the Heart of Crypto Markets

In the third quarter, the total supply of «stablecoins» increased by over $45 billion, marking the highest level ever recorded. This is noted in the report from CEX.io.

The aggregate capitalization has surpassed $300 billion.

A significant 84% of the new issuance from July to September went to USDT, USDC, and USDe. Notably, 69% of the «minted» volume was produced on the Ethereum mainnet.

USDe and PYUSD led in supply growth with increases of +173% and +152% respectively, despite the GENIUS Act prohibiting interest-bearing stablecoins in the U.S.

The total trading volume of «stablecoins» in the third quarter reached $10.3 trillion, making it the most active period since the first half of 2021. The average daily volume rose to $124 billion, which is more than double the figures from August to June.

«The initial bounce was driven by heightened activity in the broader cryptocurrency markets, but later in the same quarter, stablecoins also became a crucial capital flow instrument as caution began to rise,» the authors of the report explained.

USDT managed to strengthen its dominance in trading volume. Its share increased from 77.2% to 82.5% quarter-on-quarter, while USDC’s share fell from 14.5% to 10.5%. Other coins also lost ground.

The Tether stablecoin surpassed Circle’s coin in turnover on decentralized exchanges for the first time, exceeding a monthly figure of $100 billion. This indicates that USDT’s dominance is increasingly extending to decentralized exchanges, potentially undermining USDC’s position in DeFi, as noted by CEX.io.

Over the past three months, the total transaction volume involving «stablecoins» has reached a historic peak of $15.6 trillion. The share of organic transfers rose by more than 30%, hitting a new record of $2.9 billion.

However, bots continue to dominate, accounting for 71% of all on-chain transactions involving stablecoins.

«The increase in automated transfers was most noticeable in August and remained high into September, despite some market cooling. The surge in bot activity and untagged high-frequency transactions may raise questions about potential instances of wash trading and operations lacking economic value,» researchers noted.

Among organic transfers, retail transactions (amounts less than $250) stood out significantly. This metric reached a new historical high, making 2025 the «most active year in retail stablecoin use.»

«The third quarter confirmed that stablecoins are no longer merely auxiliary tools for cryptocurrency markets — they are becoming central to transactions and even gateways for retail adoption. Looking into the fourth quarter, it can be said that this trend is likely to continue,» the experts concluded.

Recall that in September, analysts from Moody’s highlighted the risks of a «stablecoin» boom for monetary sovereignty and financial stability.