Gate News reports that on March 10th, according to DefiLlama data, the total market capitalization of stablecoins across the entire network reached a record high of $312.4 billion, up 1.18% over the past week. Among them, USDT accounts for 58.9% of the market share, and USDC accounts for 25%. Sky’s stablecoin USDS saw a surge of 26.7% in issuance over the past month, with a current market value of $7.92 billion and a market share of 2.5%. Recently, Sky Protocol’s daily protocol fees reached as high as $1.1 million, with daily protocol revenue of $600,000, and an annualized protocol revenue of $211 million. Additionally, according to stablewatch data, the issuance volume of yield-bearing stablecoins has exceeded $21.5 billion, accounting for approximately 6.88% of the total stablecoin market cap. Sky’s sUSDS has seen a 14.6% increase in 7-day TVL to $6.06 billion, ranking first among yield-bearing stablecoins; Ethena’s sUSDE TVL stands at $3.53 billion, ranking second.
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