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In 2023, USDC remained heavily concentrated on Ethereum, which held 85% of the stablecoin’s circulating supply, Smith said.
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This change is partly because “retail traders increasingly enter the crypto market through Solana [as] speculation intensifies around Solana-based memecoins and AI agent tokens,” Grayscale said in a December research note.
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In 2024, the total value locked on Solana surged from around $1.5 billion in January to nearly $8.5 billion by December, according to data from DefiLlama.
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Cryptocurrency researcher Steno Research expects USDC’s circulating supply to more than double during 2025, reaching highs of around $100 billion.
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“This growth hinges on a critical assumption: that Tether, the largest stablecoin, remains unregulated within the European Union,” Steno said, adding:
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Accelerating stablecoin adoption is particularly bullish for decentralized finance (DeFi), as “stablecoins are the on-ramp to decentralized finance,” Citi said.
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In December, Grayscale added several DeFi applications, including two on Solana, to its list of the top 20 tokens to watch in the first quarter of 2025. They include Ethena, Jupiter and Jito.
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On Jan. 1, cryptocurrency prediction platform Polymarket said the odds of a US Solana ETF listing in 2025 are around 77%. In a post on the X platform, Sigel described Polymarket’s forecast as “underpriced.”
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Sigel’s optimism mirrors industrywide expectations of more crypto ETF listings in the US after President-elect Donald Trump’s November election win. Pro-crypto Trump said he wants to make America “the world’s crypto capital.”
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Prediction markets work by letting users trade contracts tied to specific events, with prices fluctuating dynamically based on expected outcomes. Polymarket’s projected ETF listing odds increased to approximately 84% as of Jan. 2, according to its website.
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smith6572emily
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Prediction markets work by letting users trade contracts tied to specific events, with prices fluctuating dynamically based on expected outcomes. Polymarket’s projected ETF listing odds increased to approximately 84% as of Jan. 2, according to its website.
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The OECD advised policymakers to consider key issues when adopting AI technologies in tourism. These include implementing robust data protection and consumer-safeguarding measures, analyzing job impact and conducting AI training and education for all tourism industry stakeholders.
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It also calls for the SEC to seek stays for ongoing litigation cases that don’t involve fraud, investor loss or risk of imminent harm, allowing time to finalize the regulator’s approach.
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El Salvador is set to make merchant acceptance of Bitcoin voluntary, unwind its involvement in its little-used Chivo wallet and make public sector engagement of Bitcoin-related economic activity “confined” as part of a $1.4 billion loan deal with the International Monetary Fund.
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“Bitcoin use in El Salvador was always voluntary and its usage has never been higher and continues to grow,” Keiser said in another X post. “The IMF’s point is DOA [dead on arrival].”
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Another priority for the SEC would be to rescind the 2019 framework on how the Howey test’s investment contract argument applies to digital assets and to declare that it no longer refers to the Hinman speech to conduct such analyses.
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The Central American nation will get $1.4 billion from the IMF over the next 40 months after agreeing to measures aimed at dropping its debt-to-GDP ratio, the global lender said in a Dec. 18 statement.
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However, an October survey of Salvadorans found that 92% don’t make transactions using Bitcoin, an increase from a 2023 survey that found 88% didn’t use Bitcoin for transactions.
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At the time of publication, the judge had not scheduled a trial date for Council but suggested that the parties could file a plea agreement by Jan. 17. Council would need to appear in court in person at that time.
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France’s financial markets regulator, Autorité des Marchés Financiers (AMF), has approved operations of a cryptocurrency business by the French bank BPCE.
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