The growth of stablecoins is nothing short of extraordinary. In July, Coinmetrics released a report showing how the supply of Tether (USDT), the largest stablecoin, has grown over time from $ 1 million in early 2016 to over $ 48 billion at the time of this article's publication (July 2021). Moreover, it's not just Tether that is growing. Since 2018, new stablecoins have been entering the market from various issuers.