In the landscape of the 2025 crypto economy, Tether (USDT) topped the protocol revenue charts, generating an impressive $5.2 billion which accounted for 41.9% of the whole sector's earnings, as stated in the CoinGecko 2025 Annual Crypto Industry Report. The dominance of stablecoins was further highlighted by the cumulative $8.3 billion produced by four major issuers, proving them to be the main revenue engine in a bearish market territory.
Tron emerged as a robust contender, securing second place by reaping about $3.5 billion in revenue, much of which stemmed from its prominence as a backbone for USDT transactions. While trade-dependent platforms experienced erratic earnings, reflecting the volatile sentiment of the market, stablecoins offered a buffer with their comparative economic resilience.
Despite the general market downturn, with the first significant drop in total market capitalization since 2022, stablecoins expanded notably, with their market cap soaring by almost 49%, signifying their importance and investor confidence during turbulent times.
Overall, 2025 saw a mix of crypto challenges and growth narratives, with stablecoins demonstrating their critical role in the digital finance ecosystem, and platforms like Tron capitalizing on this trend.
