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Bitget VIP Weekly Research Insights
VIPBitget VIP Weekly Research Insights

In 2025, the stablecoin market shows strong signs of growth. Research indicates that the market cap of USD-pegged stablecoins has surged 46% year-over-year, with total trading volume reaching $27.6 trillion, surpassing the combined volume of Visa and Mastercard transactions in 2024. The average circulating supply is also up 28% from the previous year, reflecting sustained market demand. Once used primarily for crypto trading and DeFi collateral, stablecoins are now expanding into cross-border payments and real-world asset management, reinforcing their growing importance in the global financial system. More banks and enterprises are starting to issue their own stablecoins. Standard Chartered launched an HKD-backed stablecoin, and PayPal issued PYUSD. The CEO of Bank of America has expressed interest in launching a stablecoin once regulations permit (via CNBC). Fidelity is developing its own USD stablecoin, while JPMorgan Chase and Bank of America plan to follow suit when market conditions stabilize. Meanwhile, World Liberty Financial (backed by the Trump family) has introduced USD1, backed by assets such as government bonds and cash.

Bitget VIP·2025/04/25 06:05
Bitget VIP Weekly Research Insights
VIPBitget VIP Weekly Research Insights

It's been nearly two months since the trend of celebrities and politicians launching memecoins began. During this period, liquidity in the Solana ecosystem almost dried up. Pump.fun, which once saw over 2000 successful launches landing on DEXs daily, hit a low of just slightly over 50 new projects per day, marking a drop of nearly 97%. During the two months, Pump.fun also rolled out its own DEX, Pump Swap, while major centralized exchanges (CEXs) accelerated their transition and put toward products combining spot and on-chain transactions. These offerings help bridge the liquidity gap between CEXs and on-chain trading, in order to capture opportunities in early-stage tokens' hype and drive a faster recovery in Solana's on-chain liquidity.

Bitget VIP·2025/04/18 06:05
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