Stablecoin Supply Surge: USDe & USDS See Remarkable Growth Post-GENIUS Act
Main Idea
The passage of the GENIUS Act has led to a significant increase in the supply of yield-bearing stablecoins USDe and USDS, as investors seek staking rewards in the evolving regulatory landscape.
Key Points
1. The circulating supply of USDe surged by 70% to approximately 9.49 billion, and USDS increased by 23% to nearly 4.81 billion following the GENIUS Act.
2. The GENIUS Act is a U.S. stablecoin regulation bill that has influenced the stablecoin market by creating new dynamics for investors, particularly in staking.
3. Investors are drawn to yield-bearing stablecoins like USDe and USDS because they offer returns through DeFi activities such as staking or liquidity provision.
4. The GENIUS Act restricts stablecoin issuers from directly providing yield, but staking rewards through DeFi protocols remain permissible.
5. The growth of yield-bearing stablecoins reflects a shift in investor behavior towards assets that offer returns under new regulatory frameworks.
Description
BitcoinWorld Stablecoin Supply Surge: USDe & USDS See Remarkable Growth Post-GENIUS Act The cryptocurrency market is always buzzing with new developments, and recent legislative changes in the United States have sparked a significant trend. We are witnessing a notable stablecoin supply surge for specific assets, particularly Ethena USDe (USDe) and Sky’s USDS. This fascinating shift is directly linked to the recent passage of the U.S. stablecoin regulation bill, known as the GENIUS Act . What’s B...
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