【(GENIUS Act) Supply of Yield-Generating Stablecoins Soars Since Passage】According to Golden Finance, as reported by Cointelegraph, since the passage of the Yield-Generating Stablecoin Act in July, the supply of yield-generating stablecoins has surged. Data shows that the biggest beneficiaries are Ethena's USDe and Sky's USDS, both of which can earn yields when staked in their respective protocols. According to DefiLlama data, since July 18, the circulating supply of USDe has increased by 70%, reaching $9.49 billion, making it the third-largest stablecoin by market capitalization. During the same period, the circulating supply of USDS rose by 23%, nearing $4.81 billion, ranking fourth by market capitalization. Anthony Yim, co-founder of analysis firm Artemis, stated: Although the (GENIUS Act) prohibits the issuance of yield-bearing stablecoins in the U.S., the supply of such stablecoins has significantly increased, becoming 'unexpected winners'. Julio Moreno, head of research at CryptoQuant, noted that it is exactly because the (GENIUS Act) prohibits issuers from directly providing yields to holders that investors have turned to yield-generating stablecoins or staking stablecoins to obtain returns.
