The total supply of stablecoins has surpassed 300 billion USD but growth has stagnated, with Tether eating into competitors' market share

By: rootdata|2026/05/21 04:45:08
0
Share
copy

According to The Block, the total supply of stablecoins has surpassed $300 billion, but growth has stagnated. Tether's USDT has increased by over $5 billion in the past month, while the supply of USDC, USDe, and PYUSD has collectively decreased by about $4.2 billion during the same period, resulting in a net growth of only about $900 million, equivalent to a total supply growth of 0.3%.

The supply of USDe has decreased by 28% in the past month and nearly 34% year-to-date, as its reliance on the funding rate mechanism of perpetual contracts has been compressed following the deleveraging event in October last year. Sky's USDS supply has increased by 48.9% year-to-date, and World Liberty Financial's USD1 supply has increased by 33.7%, absorbing most of the capital rotation. The supply of PYUSD has decreased by 13% in the past month. The issuance of bank-issued and GENIUS Act-compliant stablecoins has proven to be more challenging than expected. Analysts point out that if new issuers want to directly replace USDT's market share, they need to offer higher yields, better distribution channels, or regulatory advantages that USDT cannot match.

-- Price

--

You may also like

Morning Report | BitMine increased its holdings by 126,971 ETH last week; trader Eugene announced his exit from the crypto market

Overview of Important Market Events on June 8th

Wang Chuan: How can one not feel anxious after the neighbor Old Wang made thirty times profit by investing in storage stocks? (Seven) - A quarter-century cycle

In-depth analysis of the "reflexivity" bubble trap in storage stocks: Beware of the backlash from the bullwhip effect and the false narrative of high growth; do not let the short-term myth of wealth become a wealth abyss that cannot be recovered for 25 years.

Cryptocurrency CEXs are flocking to sell US stocks, and traditional brokerages are facing an "uninvited guest."

The major reshuffle has just begun.

$75 billion in foreign capital has fled, and South Korean retail investors have absorbed it all using leverage

Despite the accelerated migration of Korean funds from cryptocurrency to the stock market, the Korean market remains an important barometer for global cryptocurrency retail liquidity and recovery turning points.

Japan’s Three Megabanks Plan Joint Stablecoin Issuance in Fiscal 2026

MUFG, SMBC, and Mizuho reportedly plan to jointly issue fiat-pegged stablecoins in fiscal 2026, signaling Japan’s growing push into bank-led digital payment infrastructure.

Humanity Discloses H Token Dual-Chain Attack Details, With Losses on Ethereum and BSC Exceeding $36 Million

Humanity said the H token attack across Ethereum and BSC caused more than $36 million in losses after leaked ProxyAdmin keys enabled malicious contract upgrades and token minting.

Contents

Popular coins

Latest Crypto News

Read more
iconiconiconiconiconiconicon
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:bd@weex.com
VIP Program:support@weex.com