It has achieved substantial growth since President Donald Trump signed the law on June 17th, when President Donald Trump signed the “Genius Law.”
The coins tracked by Defilama have seen their collective market capitalization increase from around $251 billion to about $268 billion.
This growth has both winners and losers, with some stubcoins with deeper connections to Trump’s crypto empire seeing a disproportionate share of overall growth.
Read more: Analysis: Mapping of Donald Trump’s Growing Crypto Empire
Among the top coins, the largest relative increase in the market is Stablecoin issued by Falcon Finance.
This coin was founded by Andrei Grachev Previously he pleaded guilty to fraud in Russia..
World Liberty Financial (WLF), one of the crypto companies that the president benefits, has invested in Falcon Finance.
The second largest relative increase is Ethena, the so-called “synthetic” stable coin that WLF has also invested in.
Read more: World Liberty Financial claims are not affiliated with $Trump company
WLF’s own Stablecoin, USD1, also has a slightly lower market capitalization, as almost all of its overall market capitalization was used as a currency choice for its $2 billion MGX investment.
The two biggest stub coins issued by Tether and Circle, respectively, USDT and USDC, both continue to increase billions, but overall growth rates Slower than the encrypted reactive counterpart.
PayPal USD has grown faster than both USDT and USDC, but with a market capitalization of less than $1 billion, it is a distant competitor of other Stablecoins.
Some of these stubcoins’ growth raises important questions about the president’s profitability and profit from advances such as genius acts and changes in signatures.
