Stablecoin circulating supply has increased by $16.97B since the start of 2025, rising from $194.2B to $211.2B. However, the pace of growth has varied, with a slowdown in early 2025 before picking up again in February.

Throughout November and December, stablecoins were growing by ~$450M per day. In January, the rate declined to ~$400M per day, but February has seen a rebound, with $541M per day. This suggests renewed liquidity expansion after a period of deceleration.

Momentum accelerated in mid-January as the 7-day average moved above the 30-day SMA, signaling increased short-term demand.