Delphi Report: Tether and Circle account for 86% of the stablecoin market share, over $120 billion in U.S. Treasury bonds locked in stablecoins

1. Stablecoin market supply surpasses $250 billion

According to a report by Delphi Digital, the total supply of stablecoins has exceeded $250 billion.

2. Significant growth of yield-bearing stablecoins

Since its launch, Ethena's yield-bearing stablecoin has approached $6 billion, showing a clear growth trend.

3. Strong market share for Tether and Circle

Tether and Circle maintain a strong position in the stablecoin market, with their combined market share accounting for 86% of the circulation.

4. Intensified market diversification

The stablecoin market is showing a trend of diversification, with over 10 types of stablecoins having a circulation of over $100 million.

5. Situation of locked U.S. Treasury bonds

In the stablecoin market, over $120 billion in U.S. Treasury bonds are locked, forming a liquidity pool outside of the traditional market.

Mlion.ai Brief Comment:

Stablecoin explosion! $250 billion supply creates a massive tide, Ethena grabs $6 billion creating a growth myth! Tether and Circle dominate 86% of the market forming an iron curtain rule, while $120 billion in U.S. Treasury bonds locked creates a super fund pool, but under the monopoly of giants, new players struggle to escape the fate of being devoured!