Delphi Digital report: The supply of stablecoins in the market has exceeded 250 billion dollars for the first time.

According to Delphi Digital, the stablecoin market supply exceeded $250 billion for the first time. Among them, the yield stablecoin has grown rapidly, and Ethena has reached nearly $6 billion since its launch; Tether and Circle continue to dominate the market, with a combined 86% of the circulating supply; Increased issuer diversity, with more than $100 million in more than 10 stablecoins in circulation; More than $120 billion in U.S. Treasuries are locked in stablecoins, forming a liquidity pool outside the traditional market.