JPMorgan: Circle's USDC Stablecoin May Be the Biggest Beneficiary of the GENIUS Act

ChainCatcher news, JPMorgan analysts released a report on Tuesday indicating that since the signing of the GENIUS Act, the market capitalization of stablecoins has increased by 19%, with the biggest beneficiary appearing to be USDC from Circle. After experiencing stagnation earlier this year, its market capitalization surged in the third quarter, rising from $61.5 billion at the end of June to $73.7 billion at the end of September, capturing 25.5% of the stablecoin market. It is expected to rise by approximately 400 basis points by 2025, while Tether's dominance has decreased from 67.5% at the beginning of the year to 60.4%. Analysts suggest that the GENIUS Act may further tilt in favor of Circle.