The post It’s time for institutional stablecoin adoption appeared com. Homepage > News > Business > It’s time for institutional stablecoin adoption What was initially promised to be a ‘crypto’ revolution has settled into something starkly different, though just as disruptive: a stablecoin revolution. Yes, as world leaders pump their own memecoins and legislatures pass measures which specify exactly how much BTC a bank can keep on its balance sheet, the winner has been the assets that are most divorced from the volatile, number-go-up circus of ‘crypto’ markets, yet manage to deliver the practical benefits of digital currency. In other words, the world is beginning to prioritize utility over volatility. The numbers bear this out. The total market capitalization of stablecoins is now over $300 billion. The third-largest coin on the market, after behemoth first movers BTC and ETH, is Tether (USDT), a stablecoin with a market cap of $183 billion. When you look at which coins are actually being used, stablecoin dominance becomes even clearer. In any given 24-hour period, USDT dominates transaction volumes. At the time of writing, $126. 7 billion in USDT transactions had been made. BTC and ETH come in as distant seconds and thirds ($74 billion and $37. 6 billion, respectively), while another stablecoin, Circle’s (NASDAQ: CRCL) USDC, pulls in at fourth (with a 24-hour transaction volume of almost $12 billion). Not surprisingly, Tether accounts for a substantial 59. 6% of the market cap. However, as stablecoins have taken up an increasingly large share of the digital asset conversation, this trend has also shifted: the figure peaked at 75% in September and has since declined. Its share of the pie is being eaten by swathes of new offerings. There are alternate USD-pegged assets-which make up the entirety of the top ten stablecoins-but also alternate currency pegs such as Circle’s EURC or any number of Renmibi-linked assets. Put simply:.