The stablecoin market has reached a new peak, with a total market capitalization of $312.4 billion, marking a 1.18% increase over the past week, according to DefiLlama data. Tether's USDT remains dominant with a 58.9% market share, followed by USDC at 25%. Sky's stablecoin, USDS, has experienced a significant 26.7% increase in circulation over the past month, reaching a market cap of $7.92 billion and a 2.5% market share. Sky Protocol has reported impressive financial metrics, generating daily protocol fees of up to $1.1 million and daily revenue of $600,000, leading to an annualized income of $211 million. In the yield-bearing stablecoin sector, total issuance has surpassed $21.5 billion, representing 6.88% of the stablecoin market. Sky's sUSDS leads this category, with its 7-day total value locked (TVL) rising from $14.6 billion to $60.6 billion, while Ethena's sUSDE ranks second with a TVL of $35.3 billion.