The stablecoin sector has grown by 65% prior to now 12 months amid rising adoption.
The stablecoin market has crossed the $280 billion mark for the primary time ever, including about $2.8 billion within the final week alone.
Amongst them, Ethena’s stablecoin (USDe) has been the standout, rising in market capitalization by greater than 200% since August 2024.
By comparability, over the identical timeframe, Circle’s USDC grew 87% and Tether’s USDT by 39.5%, cementing its place as the biggest stablecoin by market cap, in accordance with Artemis knowledge.
USDe now accounts for over 4% of the market, trailing solely USDC at 24% and USDT at greater than 61%.
USDe’s success can partly be attributed to on-chain yields and DeFi integrations with apps like Pendle and Aave. On lending platforms, holders can stake USDe to earn greater rewards than competing stablecoins. As an illustration, as of press time, Aave’s USDe APY is about 13.78%, in contrast with 4.17% for USDT and 4.19% for USDC.
In late 2024, Ethena Labs launched USDtb, a stablecoin designed to adjust to the GENIUS Act within the U.S. It was additionally permitted by Ethena as an eligible backing asset for USDe, and by March this 12 months, USDtb had entered the highest 10 stablecoins by market capitalization.
Amongst blockchains, Ethereum stays the undisputed chief, holding greater than $148.5 billion, or roughly 53% of the whole stablecoin market cap, and adopted by TRON with $82.6 billion, although over 99% of the stablecoin provide there’s concentrated in USDT alone.
