Internet reports that after the passage of the GENIUS Act, the stablecoin market experienced a sharp rise in market value of US$9.11 billion in 23 days. Among them: - Ethena Labs 'USDe led growth, adding US$4.19 billion, thanks to increased revenue opportunities due to Aave/Pendle protocol integration. - Tether's USDT rose $3.71 billion to remain dominant, while SkyEcosystem's USDS rose $1.3 billion, highlighting the diversified adoption of stablecoins. - New entrants such as PayPal's PYUSD ($146 million) and Ripple's RLUSD ($102 million) demonstrate institutions 'growing interest in the stablecoin ecosystem.