The post GENIUS Act Triggers $9 Billion Stablecoin Surge, USDe & USDT Lead appeared first on Coinpedia Fintech News
The GENIUS Act has sparked a big boost in the stablecoin market.
On July 18th, US President Donald Trump signed the GENIUS Act into law, marking a big step to make stablecoins official financial products. Backed by strong bipartisan support, the legislation sets clear rules for the industry, including a requirement that all stablecoins must be fully backed by liquid reserves.
The impact was almost immediate.
Data from CoinMarketCap shows the stablecoin market, now valued at around $276 billion, has grown by $9.11 billion in just 23 days since the Act passed. This rapid rise shows how a clear and favorable regulatory framework can boost both adoption and innovation in the crypto space.
Since the GENIUS Act passed, the total stablecoin market cap grew $9.11B in 23 days
The biggest gains are coming from the top 5 players!
The biggest gains in the stablecoin market are coming from five players.
Leading the pack is Ethena’s USDe, which has surged by $4.19 billion. This rapid growth is largely due to its integration with popular platforms like Aave and Pendle. Since July 18, USDe’s circulating supply has surged 70%, boosting its market cap to the third-largest among all stablecoins. USDe is currently trading at $1, with a circulating supply of $9.7 billion.
Surprising winners in a post-GENIUS era – yield bearing stablecoin supply up a TON despite GENIUS disallowing them in the US@ethena_labs's USDe alone added 2.7B in supply since GENIUS (Jul 18) pic.twitter.com/vDfBKe4fk3
Notably, USDe alone has added $2.7 billion in supply since the GENIUS Act was passed. Anthony Yim, co-founder of Artemis, noted that yield-bearing stablecoins are surprisingly booming after the GENIUS Act, even though the law bans them in the US.
Tether’s USDT and Sky’s USDS Show Strong Gains
Tether’s USDT follows closely with a $3.71 billion increase, maintaining its strong market presence. USDT has a circulating supply of 164.34 billion tokens, and its 24-hour trading volume is up over 18%, reaching $118 billion.
Sky’s USDS also saw solid growth, rising by $1.30 billion. Since July 18, USDS’s circulating supply has surged to 7.9 billion tokens.
Paypal and Ripple Join the Rise
PayPal’s PYUSD grew by $146.01 million. Its 24-hour volume is up 90%, surpassing $32 million, with a circulating supply of 1.02 billion PYUSD.
Ripple’s RLUSD stood fifth as it grew by $102.74 million respectively. Its trading volume is up over 30% in the last 24 hours, with a circulating supply of 620.74 Million RLUSD.
Julio Moreno, Head of Research at CryptoQuant, explained that more investors are turning to USDe and USDS because staking rewards provide a workaround to the GENIUS Act’s restrictions on interest payments, helping these coins expand faster.
Stablecoin Market Could Hit $300 Billion
The stablecoin sector has already grown from $205 billion to $276 billion this year. Moreno believes it could reach $300 billion by the end of the year if the trend continues.
Large companies including JPMorgan, Amazon, and Mastercard are exploring plans to launch their own stablecoins, signaling that the interest goes far beyond the crypto community.
Meanwhile, other major crypto bills, such as the CLARITY Act and the Anti-CBDC Surveillance State Act, are also progressing through Congress, further strengthening the US position in digital finance.
function subscribed_popupmodal(template_id) { var templateId = ‘6’; getAllSubscriberCategoryList([templateId]); var subcribemodal = window.parent.document.getElementById(‘subscribe-modal-design’); if (subcribemodal) { var modalContent = `
Never Miss a Beat in the Crypto World!
Stay informed and gain the edge you need to navigate the crypto world. Select your subscription now
if (storeCheckedId.length === 0) { var unsubcribedPopUpmodal =
`
You’ve Unsubscribed Successfully
We’re sorry to see you go! Your subscription has been canceled. If you change your mind, you can re-subscribe anytime. Thank you for being part of our community!
Thank you for subscribing to our crypto and blockchain newsletter! You’ll now receive the latest news, insights, and updates straight to your inbox. Welcome to our community!
`;
let selectedSubscriptionsArray = selectedSubscriptionsString.split(‘,’); let subscribedCategories = selectedSubscriptionsArray.map(subscription => subscription.split(‘_’)[0]); let subscribedCategoriesString = subscribedCategories.join(‘, ‘);
subscribedmodal.innerHTML = subscribedPopupModal; if (document.getElementById(‘selectidname’)) { document.getElementById(‘selectidname’).textContent = subscribedCategoriesString; }
function closeModal(template_id) { var modalId = template_id; var modal = document.querySelector(‘#’ + modalId); // Using querySelector to find the modal
// Function to get cookies function getCookie(name) { let value = “; ” + document.cookie; let parts = value.split(“; ” + name + “=”); if (parts.length == 2) return parts.pop().split(“;”).shift(); }
// Get user token from cookies const userToken = getCookie(‘user_token’);
if (subscribewithoutData === ‘true’ && userToken) { // Call the modal function with the category ID subscribed_popupmodal(subscribe_clicked_cat_id);
// Remove the flag and category ID from localStorage localStorage.removeItem(‘subscribe_without_Login’); localStorage.removeItem(‘subscribe_clicked_id’); } });
var listItems = document.querySelectorAll(‘.subscription-options li’); if (listItems.length === 0) return;
var anyActive = false; listItems.forEach(function(item) { var checkbox = item.querySelector(‘input[type=”checkbox”]’); if (checkbox) { if (checkbox.checked) { item.classList.add(‘active’); anyActive = true; // Set anyActive to true } else { item.classList.remove(‘active’); // Remove ‘active’ class if checkbox is unchecked } } });
}
function updateButtonText(anyActive) { var subscribeButtonSpan = document.querySelector(‘.subscribe-submit .changeBtnText’); if (subscribeButtonSpan) { if (anyActive) { subscribeButtonSpan.textContent=”Subscribe Now”; } else { subscribeButtonSpan.textContent=”Unsubscribe”; } } }
function updateSubscriptionButton() { var listItems = document.querySelectorAll(‘.subscription-options li’); if (listItems.length === 0) return;
var anyActive = false; listItems.forEach(function(item) { var checkbox = item.querySelector(‘input[type=”checkbox”]’); if (checkbox) { if (checkbox.checked) { item.classList.add(‘active’); anyActive = true; // Set anyActive to true } else { item.classList.remove(‘active’); // Remove ‘active’ class if checkbox is unchecked } } });
// Update the button text based on whether any list item has the ‘active’ class updateButtonText(anyActive); } document.addEventListener(‘click’, function(event) { var clickedItem = event.target.closest(‘.subscription-options li’); if (clickedItem) { var checkbox = clickedItem.querySelector(‘input[type=”checkbox”]’); if (checkbox) { checkbox.checked = !checkbox.checked; updateSubscriptionButton(); } } });
FAQs
What is the GENIUS Act?
The GENIUS Act, signed July 18, 2025, regulates stablecoins in the U.S., requiring full reserve backing and boosting the market by $9.11B in 23 days.
Why is USDe growing so fast?
USDe surged 70% ($9.7B market cap) due to Aave/Pendle integrations and staking rewards, adding $2.7B post-GENIUS Act despite U.S. yield bans.
What’s next for stablecoin regulation?
The CLARITY Act and Anti-CBDC Surveillance Act are advancing in Congress, further shaping U.S. crypto policy alongside the GENIUS Act.