Google search data reveals that interest in stablecoins has surged to an all-time high as the market capitalization reached approximately $272 billion, following the enactment of the GENIUS Act on July 18. The current search interest surpasses previous peaks, particularly noted after the Terra (USTC) depeg crisis in May 2022. The crypto asset management firm Bitwise reports that both stablecoin market capitalization and transaction levels are experiencing unprecedented growth. Most stablecoins are pegged to the US dollar, with Tether dominating the market with a 60% share. Analysts suggest that stablecoins are increasingly viewed as a hedge against crypto volatility, especially useful for cross-border payments and as a safe haven in market uncertainty. Institutions are now more committed to launching their own stablecoins to align with investor interests and enhance their connection to the crypto ecosystem.

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