According to Techub News and a report by Delphi Digital, the supply of the stablecoin market has exceeded $250 billion for the first time. Among them, yield-generating stablecoins are growing rapidly, with Ethena reaching nearly $6 billion since its launch; Tether and Circle still dominate the market, accounting for 86% of the Circulating Supply; the diversity of issuers has increased, with over 10 stablecoins having a Circulating Supply exceeding $100 million; over $120 billion of U.S. Treasury bonds are locked in stablecoins.