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

ME News, April 3 (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 issues proposed rules on the “substantial similarity” determination standard for state-level stablecoin regulation under the GENIUS Act
• The U.S. stablecoin yield proposal text will be reviewed by banking and crypto industry groups from April 2 to April 3
• Coinbase Chief Legal Officer:《CLARITY Act》 is “very close” to reaching an agreement on stablecoin yield issues

Summary:

Stablecoins overall are showing a steady posture. The GENIUS Act implementation details + yield-rate clause review form a regulatory signal, and are expected to drive a further, modest increase in next week’s issuance volume and institutional inflows. (Source: CoinFound)