Savings USDS price

🚨 Infinex Stables Heating Up. Last week @infinex added stables to the earn tab. This is what yield season looks like and the TVL's are growing. Here’s the Total Value Locked (TVL) across all three stablecoins shown: ✅ SUSDE: $3.11B. ✅ SFRXUSD: $26.99M. ✅ SUSDS: $2.23B. ✅Combined TVL: $5.37B. Having Stable coin options on Infinex makes it a place for all type of Investors. Did you know? Did you know there are a total of 4 seasons on Infinex. And rewards increase as you move with the seasons. Staying consistent and showing up pays off across all of these seasons with a total reward of 6 million dollars. Conservative Swidge today: Market was painting green so made a safe play to stay in Swidge shape. 139.93 Base USDC out and .45843 AAVE in. Keep Swidging if you can. As we come to the final stretch of week 9, we stay Infinex consistent. Stay swidging, yapping and referring and stay showing up. Season rewards grow with every season rewarding those that stay committed. Dive into Infinex today.

By William Nuelle Compiler: Deep Tide TechFlow After 18 months of sharp pullbacks in global stablecoin asset size, stablecoin adoption is re-accelerating. Galaxy Ventures believes that there are three main long-term drivers for the re-acceleration of stablecoins: (i) the adoption of stablecoins as a savings vehicle; (ii) the adoption of stablecoins as payment instruments; and (iii) DeFi as a source of above-market returns, which absorbs the digital dollar. As a result, the supply of stablecoins is currently in a phase of rapid growth, reaching $300 billion by the end of 2025 and eventually $1 trillion by 2030. The growth of stablecoins in assets under management to $1 trillion will bring new opportunities and shifts to financial markets. Some shifts are currently predicted, such as the imminent shift of bank deposits in emerging markets to developed markets and the shift of regional banks to the significant banks of the global system (GSIB). However, there are some changes that we cannot foresee at this time. Stablecoins and DeFi are foundational, not marginal innovations, and they could fundamentally change credit intermediaries in entirely new ways in the future. Three major trends driving adoption: savings, payments, and DeFi yields Three adjacent trends are driving the adoption of stablecoins: using them as a savings tool, using them as a payment instrument, and using them as a source of above-market returns. Trend 1: Stablecoins as a savings tool Stablecoins are increasingly being used as a savings tool, especially in emerging markets (EMs). In economies such as Argentina, Turkey and Nigeria, their currencies are structurally weak, with inflationary pressures and currency depreciation leading to organic demand for the US dollar. Historically, as stated by the International Monetary Fund (IMF), the U.S. dollar has had limited access to many emerging markets and has become a source of financial stress. Argentine's capital controls (Cepo Cambiario) have further restricted the circulation of U.S. dollars. Stablecoins bypass these restrictions and allow individuals and businesses to easily and directly access dollar-backed liquidity via the internet. Consumer preference surveys show that access to the U.S. dollar is one of the top reasons for users in emerging markets to use cryptocurrency. A study conducted by Castle Island Ventures showed that two of the top five use cases were "saving in USD" and "exchanging my local currency to USD", with 47% and 39% of users citing this as a reason to use stablecoins, respectively. While it's difficult to understand the size of stablecoin-based savings in emerging markets, we do know that the trend is growing at a rapid pace. Stablecoin-settled card businesses like Rain (portfolio companies), Reap, RedotPay (portfolio companies), GnosisPay, and Exa have all jumped on this trend, allowing consumers to spend their savings at local merchants through the Visa and Mastercard networks. Specific to the Argentine market, fintech/crypto app Lemoncash said in its 2024 Crypto Report that its $125 million in "deposits" accounted for 30% of Argentina's centralized crypto app market share, second only to Binance's 34%, and beat Belo, Bitso, and Prex. This figure means that Argentina's crypto app has $417 million in assets under management (AUM), but Argentina's true stablecoin AUM is likely to be at least 2-3 times the stablecoin balance in non-custodial wallets like MetaMask and Phantom. While these amounts may seem small, $416 million represents 1.1% of Argentina's M1 money supply, $1 billion is 2.6%, and growing. Then consider that Argentina is just one of the emerging market economies to which this global phenomenon applies. Consumer demand for stablecoins in emerging markets is likely to scale horizontally across markets. Trend 2: Stablecoins as a payment instrument Stablecoins have also emerged as a viable alternative payment method, especially competing with SWIFT for cross-border use cases. Domestic payment systems tend to operate in real-time domestically, but stablecoins have a clear value proposition compared to traditional cross-border transactions that take more than 1 business day. As Simon Taylor points out in his article, over time, stablecoins may function more like a meta-platform that connects payment systems. Artemis released a report showing that B2B payment use cases contributed $3 billion in monthly payments ($36 billion annualized) across the 31 companies surveyed. Through communication with custodians that handle most of these payment processes, Galaxy believes that this figure is more than $100 billion annualized across all non-crypto market participants. Crucially, Artemis' report found that B2B payments grew 4x year-over-year between February 2024 and February 2025, demonstrating the scale growth required for a sustained AUM. There is currently no research on the velocity of money in stablecoins, so we are unable to correlate the total payouts with the AUM data, but the growth rate of the payouts suggests that AUM is also growing accordingly due to this trend. Trend 3: DeFi becomes a source of above-market returns Finally, for most of the past five years, DeFi has been generating yields that are structurally higher than market dollar-denominated yields, allowing consumers with good technical skills to earn returns of 5% to 10% with very low risk. This has and will continue to drive the popularity of stablecoins. DeFi is an ecosystem of capital in its own right, and one of its distinguishing features is that underlying "risk-free" interest rates such as Aave and Maker reflect the broader crypto capital markets. In my 2021 paper, "Risk-Free Rates for DeFi," I pointed out that Aave (Deep Tide Note: an open-source, decentralized lending protocol that allows users to deposit crypto assets to earn interest, or borrow assets), Compound (Deep Tide Note: one of the DeFi lending protocols, a mechanism that uses algorithms to automatically adjust interest rates), and Maker (Deep Tide Note: One of the earliest DeFi projects, the core product is the DAI stablecoin, which is a type of currency that keeps 1 to the US dollar :1 Anchored Decentralized Stablecoin) is reactive to underlying trading and other leverage needs. As new deals or opportunities emerge – such as yield farming on Yearn or Compound in 2020, underlying trading in 2021, or Ethena in 2024 – DeFi's underlying yields rise as consumers demand secured loans to configure new projects and uses. As long as the blockchain continues to generate new ideas, the base yield of DeFi should strictly exceed the yield of US Treasuries (especially with the launch of tokenized money market funds that offer yield on the base layer). Since the "native language" of DeFi is stablecoins rather than the US dollar, any "arbitrage" behavior that attempts to provide low-cost USD capital to meet the needs of this particular micro-market will have the effect of expanding the supply of stablecoins. Narrowing the spread between Aave and U.S. Treasuries will require stablecoins to expand into the DeFi space. As expected, the total value locked (TVL) increases during periods of positive spreads between Aave and Treasuries, and decreases (positively) during periods of negative spreads: Bank deposit issues Galaxy believes that the long-term adoption of stablecoins for saving, paying, and yielding is a megatrend. The adoption of stablecoins has the potential to disintermediate traditional banks by allowing consumers to directly access dollar-denominated savings accounts and cross-border payments without relying on banking infrastructure, reducing the deposit base that traditional banks use to stimulate credit creation and generate net interest margins. Bank deposit substitution For stablecoins, the historical model is that every $1 is actually equivalent to $0.80 in Treasury bills and $0.20 in the stablecoin issuer's bank account. Currently, Circle has $8 billion in cash ($0.125), $53 billion in ultra-short-term U.S. Treasury bonds (UST) or Treasury repurchase agreements ($0.875), compared to $61 billion in USDC. Circle's cash deposits are primarily held at the Bank of New York Mellon, in addition to the New York Community Bank, Cross River Bank, and other leading U.S. financial institutions. Now imagine that Argentinian user in your mind. The user has $20,000 worth of Argentine pesos with Argentina's largest bank, Banco Nacional Argentina (BNA). To avoid inflation in the Argentine Peso (ARS), users decided to increase their holdings of $20,000 in USDC. (Since the specific mechanism of ARS disposition may have an impact on the USD/ARS exchange rate, it is worth considering separately) Now, with USDC, that user's $20,000 Argentine peso in BNA is actually $17,500 in a short-term U.S. government loan or repo agreement, and $2,500 in bank deposits between Bank of New York Mellon, New York Mercancy Bank, and Cross River Bank, respectively. As consumers and businesses move their savings from traditional bank accounts to stablecoin accounts like USDC or USDT, they are effectively moving deposits from regional/commercial banks to U.S. Treasuries as well as deposits from major financial institutions. The implications are far-reaching: while consumers maintain dollar-denominated purchasing power by holding stablecoins (and through card integrations such as Rain and RedotPay), the actual bank deposits and treasuries backing these tokens will become more concentrated rather than dispersed across the traditional banking system, reducing the deposit base available for commercial and regional banks to lend, while making stablecoin issuers a significant player in the government debt market. Forced credit crunch One of the key social functions of bank deposits is lending to the economy. The fractional reserve system – the practice by which banks create money – allows banks to lend money several times their deposit base. The total multiplier for a region depends on factors such as local banking supervision, foreign exchange and reserve volatility, and the quality of local lending opportunities. The M1 / M0 ratio (the money created by the bank divided by the central bank's reserves and cash) tells us the "money multiplier" of a banking system: Continuing with Argentina as an example, converting a $20,000 deposit to USDC would convert $24,000 of local credit creation in Argentina into $17,500 in UST/repo bonds and $8,250 in U.S. credit creation ($2,500 x 3.3x the product). When the M1 supply is 1%, this effect is subtle, but when the M1 supply is 10%, the effect may be perceived. At some point, regional banking regulators will be forced to consider shutting down this tap so that credit creation and financial stability are not undermined. Overallocation of credit to the U.S. government This is undoubtedly good news for the U.S. government. At present, stablecoin issuers are the 12th largest buyers of U.S. Treasury bonds, and their AUM is growing at a rate of stablecoin AUM. In the near future, stablecoins could become one of the top five buyers of U.S. Treasury bonds (UST). New proposals like the Genius Act require all Treasury bills to be backed either in the form of Treasury bill repurchase agreements or short-term Treasury bonds with maturities of less than 90 days. Both of these approaches will significantly increase liquidity at key points in the U.S. financial system. When large enough (e.g., $1 trillion), this can have a significant impact on the yield curve, as Treasuries under 90 days will have a large buyer that is not price sensitive, distorting the interest rate curve on which the U.S. government relies for financing. That being said, Treasury repo (REPO) has not actually increased the demand for short-term U.S. Treasuries; It simply provides an available liquidity pool for secured overnight borrowings. Liquidity in the repo market is mainly borrowed by major U.S. banks, hedge funds, pension funds, and asset managers. Circle, for example, actually puts most of its reserves into overnight loans collateralized by U.S. Treasury bills. The size of this market is $4 trillion, so even with $500 billion in stablecoin reserves allocated to buybacks, stablecoins are a significant player. All of this liquidity flowing to U.S. Treasuries and borrowing from U.S. banks has benefited U.S. capital markets, while global markets have suffered. One hypothesis is that as the value of stablecoins grows to more than $1 trillion, issuers will be forced to replicate bank loan portfolios, including commercial credit and mortgage-backed securities, to avoid over-reliance on any one financial product. GIVEN THAT THE GENIUS BILL PROVIDES AN AVENUE FOR BANKS TO ISSUE "TOKENIZED DEPOSITS", SUCH AN OUTCOME MAY BE INEVITABLE. New asset management channels All of this creates an exciting new pipeline for asset management. In many ways, this trend is consistent with the ongoing transition from bank lending to non-bank financial institution (NBFI) lending after Basel III, which limited the scope and leverage of bank lending in the wake of the financial crisis. Stablecoins siphon money out of the banking system and, in fact, from specific areas of the banking system, such as emerging market banks and developed market regional banks. As stated in Galaxy's Crypto Lending Report, we've seen Tether's rise as a non-bank lender (surpassing U.S. Treasuries), and other stablecoin issuers could become just as important lenders over time. If stablecoin issuers decide to outsource credit investments to specialized firms, they will immediately become LPs for large funds and open up new channels for asset allocation (e.g., insurance companies). Large asset managers such as Blackstone, Apollo, KKR and BlackRock have expanded in the context of the transition from bank lending to non-bank financial institution lending. An effective frontier for on-chain yields Finally, it's not just the underlying bank deposits that can be borrowed. Each stablecoin is both a claim on the underlying dollar and the on-chain unit of value itself. USDC can be borrowed and borrowed on-chain, and consumers will need USDC-denominated yields, such as Aave-USDC, Morpho-USDC, Ethena USDe, Maker's sUSDS, Superform's superUSDC, and many more. The "vault" will open up another asset management channel by providing consumers with on-chain yield opportunities at attractive yields. In our view, in 2024, portfolio company Ethena will open the "Overton window" of dollar-denominated on-chain earnings by trading basis (deep tide note: the difference between the spot price and the futures price of a commodity at a specific time and place) to USDe. In the future, new vaults will emerge tracking different on-chain and off-chain investment strategies that will compete for USDC/T holdings in apps like MetaMask, Phantom, RedotPay, DolarApp, DeBlock, and more. Subsequently, we will create an "effective frontier of on-chain yields" (deep tide note: helping investors find the sweet spot between risk and return), and it's not hard to imagine that some of these on-chain vaults will be dedicated to providing credit to regions such as Argentina and Turkey, where banks are at risk of a massive loss of this capacity: conclusion The convergence of stablecoins, DeFi, and traditional finance represents not only a technological revolution, but also a restructuring of global credit intermediaries, which reflects and accelerates the shift from banks to non-bank lending after 2008. By 2030, stablecoins will have nearly $1 trillion in assets under management, thanks to their use as a savings tool in emerging markets, efficient cross-border payment channels, and above-market DeFi yields. Stablecoins will systematically siphon off deposits from traditional banks and concentrate assets in U.S. Treasuries and major U.S. financial institutions. This shift presents both opportunities and risks: stablecoin issuers will become significant players in the government debt market and may become new credit intermediaries; And regional banks, especially in emerging markets, are facing a credit crunch as deposits are moved to stablecoin accounts. The end result is a new asset management and banking model in which stablecoins will be the bridge to the frontier of efficient digital dollar investment. Just as shadow banking filled the void left by regulated banks in the wake of the financial crisis, stablecoins and DeFi protocols are positioning themselves as the dominant credit intermediaries in the digital age, which will have far-reaching implications for monetary policy, financial stability, and the future architecture of global finance.

🚨 A Liquid Future. Stablecoin yield just leveled up. @infinex unlocked upside for users. TradFi wrapped in Web3 and onchain earning with real momentum behind it. Stablecoin Season on is Here: New yield routes just dropped on Infinex: ✅ $sUSDS ✅ $sFRAX ✅ $sUSDE 3 stablecoins. 3 ways to put your idle capital to work. 2 clicks and you’re earning. No middlemen, no hidden fees. - sFRAX is sitting at a 4.60% APY. - sUSDS brings a $2.36B TVL and a 4.5% rate. - sUSDE is clocking in at 4.05% and climbing. Infinex giving you more choices and options to grow your stack. Explore the Earn page, pick your stable, click buy. Done. Swidge of the day: Just smooth Eth on an upswing into sUSD. Caught a ride and used it. 0.08 ETH out and 224.78 more sUSD in. Gas was near minimal as always on Infinex. Week 8 is play. Upgrades, enhancements and options are always in play on Infinex. Onchain yields on stablecoins was todays unlock, who knows what is unlocking tomorrow. Infinex hands the users the keys. Dive into Infinex today.