CoinFound Data: The total market capitalization of stablecoins is $321.76 billion.

ME News message, April 3 (UTC+8). According to CoinFound data:

• USDT market cap: $196.13 billion
• USDC market cap: $76.61 billion
• USDS market cap: $12.86 billion
• EURC market cap: $12.28 billion
• USDe market cap: $5.89 billion
• USD1 market cap: $4.45 billion
• PYUSD market cap: $4.06 billion

Market dynamics:

• The U.S. Department of the Treasury has formally implemented the stablecoin “GENIUS Act,” allowing issuers under $10 billion to choose state-level regulation
• The U.S. Department of the Treasury has issued proposed rules on the “substantial similarity” determination standards for state-level stablecoin regulation under the GENIUS Act
• The proposed text on U.S. stablecoin yield will be reviewed by a working group from April 2 to 3, involving banks and the crypto industry
• Coinbase Chief Legal Officer: The “CLARITY Act” is “very close” to reaching an agreement on the stablecoin yield issue

Summary:

Overall, stablecoins are showing a stable trend. The GENIUS Act implementation details + review of yield-rate provisions form regulatory signals, and are expected to drive continued modest growth in issuance volumes and institutional inflows next week. (Source: CoinFound)