Stablecoin supply rotation is accelerating: USDC circulating supply dropped 8.2% QoQ while USDT maintained 61% dominance, signaling institutional preference shifts away from Circle toward Tether's deeper liquidity pools. This reallocation directly impacts yield farming APYs across Aave and Curve, where USDC incentives spiked 340bps to compete.
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Kex Quark
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