#Stablecoin giant rakes in over $600 million in revenue#
Hot Topic Overview
Overview
In December 2024, stablecoin giants Tether and Circle generated a combined on-chain revenue exceeding $664 million, accounting for over 40% of total crypto protocol revenue and dominating the stablecoin market. Tether emerged as the largest contributor with $532.1 million in revenue, followed closely by Circle at $132.77 million. Together, these two companies captured nearly 90% of the stablecoin market share, which is valued at over $200 billion.
Ace Hot Topic Analysis
Analysis
Stablecoin giants Tether and Circle generated over $664 million in revenue in December 2024, dominating the stablecoin market. According to DeFiLlama data, the two companies accounted for over 40% of the $1.5 billion total revenue generated by crypto protocols, making them the largest revenue contributors. Tether, as the issuer of the USDT stablecoin, generated $532.1 million in revenue, while USDC issuer Circle earned $132.77 million. Together, the two companies hold nearly 90% of the stablecoin market share, which is valued at over $200 billion. This data indicates that the stablecoin market continued to show strong growth momentum in December 2024, and Tether and Circle, as leaders in the field, continue to benefit from market development.
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Public Sentiment
Discussion Word Cloud
Classic Views
Stablecoin issuers dominate cryptocurrency industry revenue, with Tether and Circle contributing the most.
Tether and Circle combined for over $664 million in on-chain revenue in December 2024, accounting for over 40% of total revenue across crypto protocols.
Tether, the largest stablecoin issuer, generated $532.1 million in revenue, while Circle generated $132.77 million.
Tether and Circle together dominate the stablecoin market, accounting for nearly 90% of market share.