According to The Block, on Thursday, the total market capitalization of stablecoins topped $230 billion for the first time in the context of efforts by U.S. regulators to promote the adoption of stablecoins. According to DefiLlama, the current total market capitalization stands at $230.45 billion, an increase of $2.3 billion in the past seven days. The market capitalization of stablecoins has increased by 56% compared to the same period last year. In the overall market capitalization, Tether's USDT stablecoin dominates with a market capitalization of nearly $144 billion, accounting for 62.6%, followed by Circle's USDC with a market capitalization of $59 billion.