The stablecoin market on Ethereum in 2025 has grown almost 3×, jumping from $65B → $165B
$USDT and $USDC are still the biggest players, but a new force is rising fast: YBS like @ethena_labs or @SkyEcosystem with nearly $20B to the market.
At one point, USDe made up almost 10% of all stablecoins on Ethereum and they achieved this in just one year.
This number will not stop here
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