USDT Gains $5B While Rival Stablecoins Bleed — Net Stablecoin Growth Near Zero

Total stablecoin supply has crossed $300 billion, but the headline number masks a sharp deceleration beneath the surface. Over the past month, Tether's USDT expanded by more than $5 billion while USDC, USDe, and PYUSD collectively shed roughly $4.2 billion — leaving net stablecoin market growth at…