How a Lunatic Law Turned Stablecoins into Crypto Gold-And Everyone’s Laughing All the Way to the Bank

It was a day, oh yes, a day like any other, except this particular day the government, in some grand act of what could only be described as either genius or madness, signed a bill into law. They call it the GENIUS Act-but one might wonder if they just forgot the sarcasm tag at the end. Anyway, this act, fueled by bipartisan support, had the audacity to declare stablecoins as ‘official’ financial products-because everything’s better when the government says so, right? 🥴

And what was the immediate impact? Well, imagine the markets as a stubborn old man suddenly sent into a frenzy after a shot of espresso-growth, rapid and unapologetic. Data from CoinMarketCap, which is basically the crystal ball of the crypto universe, shows the stablecoin market ballooned by \$9.11 billion-just 23 days after the law’s signing. Seems like rules are just suggestions, after all. The total market cap now hovers around \$276 billion, a number so large it makes you wonder if the accountants have lost track of reality.

Since the GENIUS Act passed, the total stablecoin market cap grew \$9.11B in 23 days

And guess what? The top 5 are laughing all the way to the bank!

Check out who’s leading the charge:
1⃣ @ethena_labs USDe: The rocketship of the moment, thanks to some tech wizardry with @aave and @pendle_fi, has pushed it to an astonishing \$4.19B…

– CoinMarketCap (@CoinMarketCap) August 8, 2025

Yielding to the Chaos: The Big Winners

Now, the real star here-aside from the government’s apparent sense of humor-is the cast of stablecoins making the biggest gains. USDe, the “special” one from Ethena, has exploded by a cool \$4.19 billion. Its secret? Integration with popular platforms like Aave and Pendle, which sound like Harry Potter spells but are actually serious DeFi tools. Since July 18, USDe’s supply surged by 70%, reaching a market cap that places it firmly in the top tier of stablecoins-because who doesn’t love a good comeback story, especially when government legislation stokes the fire? 🧐✨

Even more shocking-USDe has added \$2.7 billion since the law’s inception, defying logic, reason, and any lingering US regulatory restrictions. Anthony Yim, the prophet of Artemis, notes that yield-bearing stablecoins are booming in the shadows-they’re like rebellious teenagers thriving despite being grounded.

– Anthony Yim (@anthonyyim) August 4, 2025

Stars are aligning or maybe just collapsing into chaos; USDe’s supply grew despite the supposed crackdown. And the law? Well, it’s more like an unintentional catalyst-plenty of folks are now earning yield on coins that supposedly couldn’t do that in the US anymore. Life’s strange, isn’t it? 🤷‍♂️

Big Players Stepping Up: USDT and USDS Get Their Moment

Tether’s USDT, the old warhorse, is still charging ahead with an extra \$3.71 billion in circulation. Over 164 billion tokens are out there, just waiting for the market to turn. Its trading volume? Over a whopping \$118 billion in 24 hours-because apparently hoarding tokens is still the new black.

Meanwhile, Sky’s USDS isn’t sitting still, bumping up by \$1.3 billion and now with nearly 8 billion tokens-because why not? Just more digital paper to obsess over.

Corporate Giants Enter the Circus: PayPal & Ripple Join the Fray

PayPal’s PYUSD grew slightly by \$146 million, because nothing says “seriously competing” like a figure that sounds like a typo. Its trading volume soared 90%, reaching above \$32 million-because in crypto, a small mountain is still a mountain.

Ripple’s RLUSD? It added \$102.74 million, because apparently even big institutional players can’t resist the chaos. Trading volume up 30% in a day? Well, who needs sleep when you have stablecoins making headlines?

CryptoQuant’s Julio Moreno suggests that investors are flocking to USDe and USDS because they offer staking rewards-like the mythical pot of gold at the end of the rainbow-helping them dodge the restrictive laws. Ah, the sweet irony of regulation turning into opportunity, served with a side of humor.

The Big Dream: Stablecoins Maybe Hitting \$300 Billion Soon

From a modest \$205 billion to \$276 billion-yet everyone’s whispering about hitting a cool \$300 billion before the year’s end-a number so precise it’s almost poetic. Big firms like JPMorgan, Amazon, and Mastercard are lurking, ready to join the party, because nothing screams stability like a giant stepping into the ring.

Meanwhile, Congress is busy pretending it’s working-cluttering the docket with laws like the CLARITY Act and the Anti-CBDC Surveillance State Act, which sound more like spy novels than financial legislation. But hey, it’s the U.S.-where the future of currency is as unpredictable as a cat on a hot tin roof. 🐱🔥

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FAQs – Because You Know You’re Curious

What’s this GENIUS Act, and why’s everyone pretending it’s smart?

Signed on July 18, 2025, it’s a regulation that suddenly made stablecoins “legitimate,” boosting the market by over nine billion dollars-luckily, the crypto universe loves chaos and regulation, apparently.

And USDe, seriously-what’s the deal?

This one’s skyrocketing-70% increase, a $9.7 billion cap-thanks to some fancy Aave and Pendle magic and staking rewards that even the US Congress finds hard to understand, yet benefits from. Who says regulation doesn’t have surprises?

What’s next? More laws or more chaos?

The CLARITY Act and the Anti-CBDC Act are working their way through Congress, promising more legislative circus-more rules, more confusion, more chaos, and perhaps, more profits for those lucky enough to understand it all.

2025-08-08 18:12