Total Stablecoin Market Cap Hits Record High of $312.4 Billion, Sky's Stablecoin USDS Quickly Rising

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March 10th: DefiLlama data shows the total market cap of stablecoins across all chains hit a record high, currently at $312.4 billion—up 1.18% over the past week. USDT accounts for 58.9% of the market share, while USDC holds 25%. Sky’s stablecoin USDS surged 26.7% in circulation over the past month, with a current market cap of $7.92 billion (2.5% share). Sky Protocol also topped $1.1 million in daily protocol fees, generating $600,000 in daily revenue and $211 million in annualized revenue. Per Stablewatch data, the supply of yield-bearing stablecoins has surpassed $21.5 billion, representing roughly 6.88% of total stablecoin market cap. Sky’s sUSDS emerged as a leader, with a 14.6% seven-day TVL surge to $6.06 billion—ranking first among yield-bearing stablecoins. Ethena’s sUSDE follows with a TVL of $3.53 billion (second place).

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Mainstream Perp DEX Overview: Traditional Assets Lead Hyperliquid Trading Volume Surge, Intraday Volume Rebounds Surpassing $10 Billion

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The "Long-Short Dual Oil Air Force" quickly engaged in consecutive rolling spot month short positions in CL, reaching a scale of 12.6 million, now the largest short in on-chain oil markets

March 10th, per HyperInsight monitoring (via their Telegram channel), the address 0x985f… (labeled “US, Brent Dual Oil Main Force”) consecutively rolled over its CL (WTI crude oil) short positions within ~30 minutes, accumulating ~26,960 CL short contracts totaling ~$3.42 million. After this round of continuous position building, the address’s total CL short position value has risen to $12.6 million, with its average entry price further lowered to $88.03. The position currently holds ~$41,600 in floating profit (a 0.77% return) and has a liquidation price of $123.3. This CL short position was opened and rolled over consecutively over the past 7 hours. Meanwhile, the address has been adding to its BRENTOIL (Brent crude oil) short positions in recent hours, growing the position size to $6.2 million at an average price of $91.7. Currently, this address holds the largest on-chain short positions in both BRENTOIL and CL.

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