CoinFound Data: The total market capitalization of stablecoins is $3217.6 billion.

ME News Report, April 3rd (UTC+8), according to CoinFound data:

• USDT market cap: $196.13 billion
• USDC market cap: $76.61 billion
• USDS market cap: $12.86 billion
• EURC market cap: $12.28 billion
• USDe market cap: $5.89 billion
• USD1 market cap: $4.45 billion
• PYUSD market cap: $4.06 billion

Market dynamics:

• The U.S. Department of the Treasury officially implements the Stablecoin “GENIUS Act,” allowing issuers below $10 billion to choose state-level regulation
• The U.S. Department of the Treasury releases proposed rules on the “substantial similarity” standard for state-level stablecoin regulation under the GENIUS Act
• The U.S. stablecoin yield proposal will be reviewed by banking and crypto industry groups from April 2 to 3
• Coinbase Chief Legal Officer: The “CLARITY Act” is “very close” to reaching an agreement on stablecoin yield issues

Summary:

Overall, stablecoins remain stable, with the implementation details of the GENIUS Act and yield rate review signaling regulatory signals. It is expected to promote moderate growth in issuance and institutional inflows next week. (Source: CoinFound)