《Stablecoin Market Hits $290 Billion, But Lending Yields Consistently Underperform 1-Year U.S. Treasury Bonds》 (Authors: Cooper Duschang, Tanay Ved) The on-chain stablecoin market has surpassed $290 billion, with deposits in platforms like Aave and Morpho exceeding $8.6 billion. Yields vary depending on protocol design and treasury curators. The same stablecoin shows significant differences in returns across lending protocols—USDC yields on Aave and Morpho fluctuate compared to 1-year U.S. Treasury bonds. Starting in 2024, if investing in Aave, USDC yields are expected to outperform ETH lending. Stablecoins provide relatively stable on-chain returns, but their volatility and risks are higher than traditional fixed-income assets, requiring careful consideration. Read the full article: https://www.(wublock123.com)/articles/article-59507