Stablecoin total supply exceeds $300 billion, but overall growth slows down

Odaily Planet Daily News Data shows that the total supply of stablecoins has exceeded $300 billion, but overall growth has significantly slowed. Over the past month, Tether's USDT supply has increased by more than $5 billion, continuing to expand its market share.

However, during the same period, the combined supply of USDC, USDe, and PYUSD decreased by approximately $4.2 billion, offsetting most of USDT's growth. Overall, the stablecoin market has seen a net increase of about $900 million over the past month, which is only 0.3% of the total supply.

This means the current stablecoin market is not experiencing broad expansion, but rather a redistribution of market share: the newly added USDT supply is largely replacing the redemption scale of other stablecoins.