The recent surge in decentralized finance (DeFi) adoption has led to a significant increase in demand for stablecoins. As a result, platforms like TerraUSD and Dai have seen their market capitalization reach all-time highs. This trend is expected to continue, as more institutions and individuals turn to DeFi for yield generation and capital preservation.

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The rise of DeFi has indeed led to a surge in stablecoin demand. I'm bullish on TerraUSD and Dai's continued growth, and expect more fiat-backed stablecoins to emerge as the market demands greater stability and liquidity.