Following the passing of the GENIUS Act, yield-bearing stablecoins have witnessed notable growth with USDe rising 70% to 9.49 billion and USDS increasing 23%, while ENA rallied nearly 60%.
A recent report reveals that after the GENIUS stablecoin bill, yield-bearing stablecoins have surged. USDe’s circulating supply climbed 70% to 9.49 billion units and USDS grew 23% to nearly 4.81 billion, with ENA, Ethena’s governance token, rallying nearly 60% since mid-July. Staking is now the favored method for yield, with staked USDe and USDS offering APYs of 10.86% and 4.75% respectively. The overall stablecoin market has grown by 23.5% year-to-date, with forecasts suggesting it may approach $300 billion by year-end.