Stablecoins have grown significantly, now nearly matching the combined market size of Layer 1 blockchains and decentralized finance (DeFi) platforms. This development highlights the increasing importance of stablecoins in the cryptocurrency ecosystem, as they provide a stable medium of exchange and store of value amidst the volatility of other digital assets. The rise of stablecoins underscores their role in facilitating transactions and liquidity across various crypto markets.