stablecoins at the frontier will lead this bull run circle and tether remain dominant, but a new class is emerging: yield-bearing stablecoins that let users earn on idle capital they’ve already grown 45% in 1H 2025 to $12.4B market cap TOMORROW, my colleagues (@AvgJoesCrypto, @0xSynthesis1, @immutablejacob) & I are dropping a massive stablecoin report covering this and more.

State of Stablecoins 2025. Dropping tomorrow, July 22 (free to everyone). We cover cross-border payments, dollar access, and stablecoins at the frontier across 100+ pages. @MessariCrypto x 18 contributing partners.

Someone sweeps arguably the most culturally important asset in this space and my entire TL starts calling top. We’re going higher, aren’t we?

$DEGEN still has a higher market cap than $ZORA

$PUMP at $4.6B FDV or $ZORA at $200M FDV? Hmm…

People who I’m not even sure knew Arbitrum existed prior to this week are shilling $T What’s going on here?

You can tell the majority of CT is completely sidelined on this $ETH move by the simple fact that gwei is only now just starting to move

HNT is up 64% since we called the bottom on June 23rd based on fundamentals growth and downstream effects of the August 1st Halving. In that same period: BTC: +13.4% ETH: +53.5% SOL: +20.7% AAVE: +37.2% To all the liquid funds - yes @MessariCrypto does have alpha.

Does the @base app use @zora for posts made on the app? Or did they build a competing product?

1/ Is Plasma the onchain stablecoin beta? Key takeaways from my latest @MessariCrypto report: With Plasma’s XPL public sale tomorrow, here’s how we’re thinking about the product. Thread 🧵