The total market capitalization of stablecoins has exceeded $300 billion for the first time, according to DeFiLlama data. Tether (USDT) leads the market with a 58.44% share, amounting to $176.256 billion. USD Coin (USDC) follows with over $74 billion, while USDe, the third-largest yield-bearing stablecoin, reaches $14.83 billion.