Stablecoin supply tops $300 billion but growth stalls as Tether gains at rivals’ expense

The total stablecoin supply has just surpassed the $300 billion mark, with Tether's (USDT) adding over $5 billion in the last month. Yet despite Tether’s growth, the supply of USDC, USDe, and PYUSD together declined by roughly $4.2 billion over the same period.

All things considered, a net category growth of nearly $900 million, the equivalent of a 0.3% growth of the total supply over the past…