According to TechFlame, J.P. Morgan analysts released a report on Tuesday stating that since the GENIUS Act was signed, the market value of stablecoins has risen 19%, and the biggest beneficiary appears to be Circle's USDC. After experiencing stagnation earlier this year, its market capitalization soared in the third quarter, from $61.5 billion at the end of June to $73.7 billion at the end of September, accounting for 25.5% of the stablecoin market. Expected to rise about 400 basis points by 2025, Tether's dominance declined from 67.5% at the beginning of the year to 60.4%. Analysts say the GENIUS bill could lean further towards Circle.