“U.S. gross debt increased from $34.4 trillion at the end of 2023 to $36.1 trillion as of December 2024, with some experts calling it unsustainable.”

With a $200B+ stablecoin market cap (almost entirely USD), I see USD stablecoin dominance continuing — provided that the U.S. debt situation doesn’t get out of control.

It’s worth noting that 75% of the debt is held domestically — ameliorating concerns about foreign debt holders.

If the new administration/DOGE can reduce the deficit, the USD stablecoin market could really explode IMO — partly driven by USD demand from emerging markets.