Q2 Yield-Bearing Stablecoin Supply Plummets 15%: sUSDe and sUSDS Shrink While Treasury-Backed Products Keep Growing

News Editor

2026-07-02 10:23:33

2026年第二季度，生息稳定币总供应量环比下降15%，主要受sUSDe及sUSDS两种加密原生代币的赎回影响。与此同时，以美国国债为底层资产的BUIDL、USYC和USDY仍保持扩张态势，反映市场对合规、低风险收益产品的偏好持续增强。

yield-bearing stablecoinssUSDesUSDSBUIDLUSYCUSDYT-bill-backed stablecoinsDeFi yieldsstablecoin supply

Market Overview

In Q2 2026, the yield-bearing stablecoin market experienced a notable divergence. The overall supply of yield-bearing stablecoins declined by 15% quarter-over-quarter, primarily driven by redemptions in crypto-native tokens sUSDe and sUSDS. In contrast, products backed by U.S. Treasury securities—specifically BUIDL, USYC, and USDY—continued to expand. This shift highlights a growing preference among capital allocators for compliant, low-risk yield instruments amid changing macroeconomic rate expectations and heightened regulatory scrutiny. The trend underscores a rotation away from higher-risk on-chain native protocols toward Treasury-backed vehicles that offer more predictable returns with established legal frameworks.

Q2 Yield-Bearing Stablecoin Supply Plummets 15%: sUSDe and sUSDS Shrink While Treasury-Backed Products Keep Growing 2

This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan.

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