Regulatory-Driven Stablecoin Rotation
Metrics showing how compliance requirements reshape stablecoin market structure.
$183.6B
USDT Market Cap
▼ -$3.2B from peak
$75.3B
USDC Market Cap
▲ +72% YoY
41%
USDC/USDT Ratio
▲ Highest ever recorded
$770M
Circle Q4 Revenue
▲ +412% EBITDA YoY
+16%
CRCL Stock
▲ On earnings beat
Source: DefiLlama, Circle earnings, market data