Token data from defillama.com shows the stablecoin market now holds a valuation of $264.986 billion, with USDT commanding a dominant 61.86% share. At the moment, on Saturday afternoon, tether’s market cap sits at a hefty $163.90 billion, boosted by a 1.19% increase in the past week that brought 1.925 billion new coins into circulation.
Circle’s USDC holds steady in second place with a $64.015 billion market cap, though it dipped 0.54% after 348 million USDC was removed from assets under management (AUM). Ethena’s USDe posted the second-highest percentage gain among the top ten stablecoins this week, climbing 24.63%.
Roughly 1.425 billion new USDe entered circulation, pushing its market valuation to $7.212 billion. Meanwhile, Sky’s USDS led the pack with a 24.95% weekly jump, as an influx of 989.77 million USDS lifted its market cap to $4.956 billion. Stablecoins ranked five through nine by market cap all saw declines over the past seven days.
Paypal’s PYUSD inched up 2.98%, with 25.75 million new tokens issued, bringing its total valuation to $890.68 million — enough to keep it as the tenth largest stablecoin. Out of the 100 tracked stablecoins, Sky posted the biggest percentage gain this week, with USDe right behind it.
While dominant players maintain their hold, the ascent of alternatives like USDe and USDS hints at growing fragmentation within the stablecoin space. Competitive minting activity signals potential disruption ahead, especially if emerging tokens sustain momentum and attract further liquidity.
Regulations, like the newly enacted stablecoin law brought forth by the GENIUS Act, may disrupt this situation even more going forward. Standardized oversight could either reinforce dominant issuers or open new doors for challengers aiming to meet compliance head-on. Beyond that, the stablecoin economy has already been expanding at a rapid and relentless pace.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
