Total Stablecoin Market Cap Hits $312.4 Billion All-Time High, Sky's Stablecoin USDS Rapidly Rising

BlockBeats News, March 10, according to DefiLlama data, the total market value of stablecoins across all chains hit a record high, currently standing at $312.4 billion, a 1.18% increase in the past week. USDT accounts for 58.9% of the market share, while USDC accounts for 25%. Sky's stablecoin USDS has surged by 26.7% in circulation in the past month, with a current market value of $7.92 billion and a market share of 2.5%. Sky Protocol's recent daily protocol fee reached as high as $1.1 million, with a daily protocol revenue of $600,000 and an annualized protocol revenue of $211 million.

According to stablewatch data, the current supply of yield-bearing stablecoins has exceeded $21.5 billion, accounting for approximately 6.88% of the total stablecoin market value. Sky's sUSDS has emerged rapidly, with a 7-day TVL increase of 14.6% to $6.06 billion, ranking first among yield-bearing stablecoins, while Ethena's sUSDE TVL of $3.53 billion ranks second.