[Wealth Code] The circulation of income-generating stablecoins exceeds 11 billion US dollars! Traditional stablecoin holders miss out on 9 billion in income every year?
A silent financial revolution: Why are yield-based stablecoins setting the market on fire?
1️⃣ Data surge: from 1.5 billion to 11 billion in just one year!
At the beginning of 2024, the market size of income-generating stablecoins was only $1.5 billion, accounting for 1%. By May 2025, this figure had soared to $11 billion, accounting for 4.5% of the total stablecoin market, an increase of more than 7 times! Behind this explosive growth is the release of regulatory dividends and the blowout of users' demand for "lying down and making money".
2️⃣ Pendle becomes the biggest winner: the “profit splitting technique” behind 30% market share
The decentralized protocol Pendle leads the market with a 30% market share (US$3 billion locked). Its core gameplay is to split the income assets into principal tokens and income tokens, and users can lock in fixed income or speculate on floating interest rates. In just one year, Pendle's stablecoin lock-up ratio soared from less than 20% to 83%, while the proportion of traditional assets such as Ethereum plummeted from 80% to less than 10%.
3️⃣ The “lying flat crisis” of traditional stablecoins: US$9 billion in revenue evaporates every year!
Traditional stablecoins such as USDT and USDC do not pay interest to holders. Based on the current 4.3% Federal Reserve interest rate, holders of stablecoins worth $200 billion miss out on more than $9 billion in revenue each year! However, income-generating stablecoins directly return this part of the profit to users through on-chain lending, treasury bond anchoring and other models - this is the real "holding currency to earn interest".
The future is here: three explosive engines of income-generating stablecoins
🔥 Regulatory green light: SEC approval + two major bills to protect
In February 2025, the U.S. SEC clearly classified yield-based stablecoins as "security certificates," allowing them to operate under a compliance framework. At the same time, the (STABLE Act) and (GENIUS Act) further cleared the way for institutional funds to enter the market.
🚀 Ethena’s USDe dominates the market, and new forces emerge
Ethena's USDe stablecoin accounts for 75% of the locked volume on the Pendle platform, but new players such as Open Eden and Reserve are rising rapidly - the share of non-USDe assets has surged from 1% to 26% in one year, and the market diversification trend is obvious.
💸 Spartan Group predicts: The scale of 75 billion US dollars is imminent!
Top institutions predict that the total issuance of stablecoins will double to $500 billion in the next 18-24 months, of which the income-generating proportion may reach 15% (US$75 billion). If Pendle maintains a 25% market share, its locked value will exceed US$20 billion, and the annual revenue of the protocol may exceed US$200 million.
Is it still too late to get on the bus now?
If you are:
✅ Long-term holders of USDT/USDC: Losing 4% of income every year is equivalent to chronic shrinkage of assets!
✅ DeFi Yield Hunter: Pendle's fixed interest rate + floating income game, unlocking higher return strategies!
✅ Institutional investors: Driven by the GENIUS Act, compliant income-generating stablecoins may become the new standard for asset management!
If you feel helpless and confused in trading at the moment, and want to know more about the cryptocurrency world and get first-hand information, click on the avatar and follow me, so you won’t get lost in this bull market!
