A significant leap for yield-generating stablecoins: the value exceeds $11 billion and now represents 4.5% of the market!

The total value of yield-generating stablecoins has risen to $11 billion, up from only $1.5 billion at the beginning of 2024, reflecting a major shift in investor trends and market regulation.

Among the biggest winners is the Pendle project, which alone accounts for 30% of this market (around $3 billion). Pendle allows users to lock in fixed yields or speculate on variable interest rates.

Interestingly, stablecoins make up 83% of Pendle's total value locked, compared to less than 20% a year ago, while the contribution of assets like Ethereum has dropped to less than 10%.

According to Pendle, holders of traditional stablecoins like USDT and USDC are losing over $9 billion in annual yields due to the lack of interest pass-through, even though the U.S. Federal Reserve sets the interest rate at 4.3%.

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