Stablecoin Market Cap Nears $310B at Record Highs Despite Crypto Crash

The stablecoin market capitalization is nearing $310 billion, reaching an all-time high amid challenging market conditions with crashing cryptocurrency prices and significant liquidations from leveraged positions.

  • As of December 15, the stablecoin market cap reached $309.83 billion, marking a 0.44% increase in 24 hours.
  • Tether dominates the stablecoin market with a 60% share.
  • This represents a 50.95% year-to-date growth from $205.24 billion on January 1, 2025.

Total Value Locked in Defi | Source: DeFiLLama

This growth indicates capital inflow into stablecoins, suggesting interest in crypto products remains despite volatility. Capital is not exiting crypto markets but shifting towards stablecoins.

Crypto Market Crashes: Over $600M Liquidations

  • On December 15, over 185,000 traders faced a crash leading to $650 million in derivative market liquidations, primarily from long positions.
  • Bitcoin accounted for $222 million in daily liquidations, with $200 million from long positions.

Crypto market liquidation heatmap | Source: CoinGlass

Despite the downturn, significant capital moves into stablecoins, indicating potential future buying opportunities as investors may seek to re-enter the market at favorable conditions.

  • BTC attracted $522 million in investment product inflows, and XRP followed with $245 million.
  • BitMine Immersion expanded its Ethereum holdings with a $320 million purchase.
  • Visa announced a stablecoin advisory practice for financial institutions, promoting asset class adoption.