Stablecoin Market Grows by $9.11 Billion Following the Introduction of the GENIUS Act
According to Jinse Finance, following the passage of the GENIUS Act, the stablecoin market experienced a significant surge of $9.11 billion in market capitalization within 23 days. Among the highlights: - Ethena Labs’ USDe led the growth, adding $4.19 billion, driven by increased yield opportunities from Aave/Pendle protocol integrations. - Tether’s USDT rose by $3.71 billion, maintaining its dominant position, while SkyEcosystem’s USDS increased by $1.3 billion, underscoring the diversification in stablecoin adoption. - New entrants such as PayPal’s PYUSD ($146 million) and Ripple’s RLUSD ($102 million) indicate growing institutional interest in the stablecoin ecosystem.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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