JPMorgan: Circle's USDC stablecoin could be the biggest beneficiary of the GENIUS Act.

According to Mars Finance, JPMorgan analysts released a report on Tuesday stating that since the signing of the GENIUS Act, the market capitalization of stablecoins has risen by 19%, with the biggest beneficiary seemingly being USDC under Circle. After experiencing stagnation earlier this year, its market capitalization soared in the third quarter, increasing 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 about 400 basis points by 2025, while Tether's dominance has declined from 67.5% at the beginning of the year to 60.4%. Analysts indicated that the GENIUS Act may further tilt in favor of Circle.