Japan's core machinery orders month-on-month in May

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💫 While US dollar-backed stablecoins hold 90% market share in stablecoin transactions, the share of transactions directly using US dollars is 10%. The usage share of Euro-backed stablecoins is 1.1%.

Stablecoins have expanded more swiftly this year compared to the previous one. Just a week earlier, the stablecoin market was valued at $155.86 billion; today, it stands at $158.67 billion, reflecting a 1.8% increase. In contrast to the broader cryptocurrency market, which experienced a noticeable decline, the dollar-pegged crypto sector demonstrated strong growth. Stablecoin Market Climbs $2.81B in a Week, Nearing $160B Valuation Stablecoin dominance according to defillama.com. The overall value of the stablecoin market increased by approximately $2.81 billion, with $2.2 billion of this growth attributable to tether (USDT). Over the past month, tether’s supply expanded by 5.6%, reaching a current valuation of $109.38 billion. Last week, on April 12, usd coin (USDC) held a market valuation of about $32.02 billion, which has since risen to $33.15 billion. DAI also enjoyed a week of growth, with its market cap increasing from $4.93 billion to $5.12 billion. In contrast, FDUSD experienced a small drop from $3.93 billion on April 12 to $3.58 billion today. Despite this weekly dip, FDUSD’s supply has risen by 23.8% since March 19. Ethena’s USDE has shown no significant changes in supply over the past week, maintaining a stable figure of $2.38 billion. Over the past month, USDD, TUSD, and USDP have all recorded declines. USDD’s supply decreased by 2.7% this month, while TUSD saw a substantial 48.9% reduction over the same period. Paxos’ USDP experienced a 25.2% cut since March 19. Meanwhile, Paypal’s stablecoin, PYUSD, achieved a 6.8% increase this month, boosting its market valuation to $202 million at press time. In the dynamic landscape of the stablecoin market, this week’s growth exemplifies a clear deviation from the broader cryptocurrency trends, with USDT leading the charge. As the market faces fluctuations, stablecoins seem to offer a semblance of stability, albeit with varying supply changes among different tokens.

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Latest updates on stablecoin yield strategies The current US dollar index is high, and risk assets are under pressure. Holding dollar assets is indeed a wise choice, especially if one can earn returns from them. Leading DeFi projects are also actively using idle dollar assets to generate profits. Recently, a proposal from a certain DAO was approved to transfer up to 1.6 billion of a certain stablecoin to a custodial service in order to obtain an annualized return of 1.5%. This article will update readers on several stablecoin yield strategies. USDD+3Crv strategy USDD is managed by a certain organization and is considered the official stablecoin of a certain public chain. As of October 27, the issuance of USDD is 725 million, with collateral valued at 2.23 billion USD and a collateralization rate of over 300%. The amount of a certain stablecoin among the collateral is 990 million, far exceeding the issuance of USDD, indicating a low risk factor. Recently, a certain trading platform delisted a certain stablecoin and listed multiple USDD.