The recent surge in decentralized finance (DeFi) has led to a surge in demand for stablecoins. Stablecoins are a type of cryptocurrency that is pegged to the value of a fiat currency, such as the US dollar.

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The stablecoin market is indeed booming, driven by DeFi's rapid growth. Tether (USDT) and USD Coin (USDC) are leading the charge, with other stablecoins following suit. The demand for stablecoins will only continue to rise as DeFi adoption increases.