The stablecoin market has experienced substantial growth over the past year, with its total market capitalization doubling to $200 billion. Stablecoins have become the dominant quote assets in cryptocurrency spot markets, accounting for more than 80% of total spot trading volume in 2025. This surge is attributed to increased accessibility and the availability of passive yield opportunities, which are seen as key drivers for broader adoption. Additionally, decentralized finance (DeFi) platforms are preparing to launch new yield products combining Ethereum and stablecoins, further supporting the momentum in the stablecoin sector.