ChainThink reports that, as of March 10, according to DefiLlama data, the total market capitalization of all stablecoins has reached a new all-time high of $312.4 billion, up 1.18% over the past week. USDT holds a 58.9% market share, while USDC accounts for 25%. The stablecoin USDS, issued by Sky, has seen its circulation surge by 26.7% over the past month, with a current market cap of $7.92 billion and a market share of 2.5%. Sky Protocol has recently generated daily protocol fees of up to $1.1 million and daily protocol revenue of $600,000, resulting in an annualized protocol income of $211 million.
According to Stablewatch data, the total issuance of yield-bearing stablecoins has now exceeded $21.5 billion, accounting for approximately 6.88% of the total stablecoin market cap. Sky’s sUSDS has emerged as a leader, with its 7-day TVL growing from $14.6 billion to $60.6 billion, ranking first among yield-bearing stablecoins. Ethena’s sUSDE, with a TVL of $35.3 billion, ranks second.