Stablecoins: The Complex Value Chain of Key Players

The November 2025 edition of Coin Metrics Movers and Shakers is here - and two standout assets are joining our coverage: - Sky Ecosystem (SKY_SKY): a governance token for the USDS stablecoin protocol, enabling voting on protocol changes and earning staking rewards, with penalties for holders who don’t upgrade from MKR. - Plasma (XPL): a stablecoin-focused smart contract platform offering zero-fee USDT transfers, confidential payments, and XPL for fees and staking. Both are now aligning with Coin Metrics Market Selection and Trusted Volume Frameworks. Curious how they work - and why they matter? Catch the full breakdown in this month’s feature (link in replies)

DATs will sell on your head. They have to, if they don't have compelling growth capture. But the growth is right in front of us, it's stablecoins. The global stablecoin market stands at $287B today and is projected to reach $2T by 2028 — a 7× expansion in just a few years. But what’s even more powerful is the layer within the layer: projects like ethena, innovating on stablecoin baskets and governance models, could represent another 7× growth inside that broader curve. Real fundamentals, sustainable revenue generation, and alignment between digital assets and capital-market mechanics - this is DAT 2.0.

The new stablecoin era has begun. Our new report with Gate Research (@gate) explores how compliance, innovation & infrastructure are reshaping the trillion market, and how #AlchemyChain is redefining global settlement. Read the full report https://lnkd.in/gBXKtsaG #AlchemyPay $ACH

#XRPLedger is quietly scaling real-world adoption. • RWA Value: $365M (+4%) • RWA 30D Volume: $562M (+84%) • Stablecoin 30D Volume: $323M (+83%)

What happens if we enter a stablecoin crisis? Over $300 billion are already locked in stablecoins. Roughly 10% of France’s GDP, and the number is growing fast. Rhys Bidder, Senior Lecturer at King’s Business School and Advisor to Chainlink Labs, joined me and Jón Helgi Egilsson. We discussed how regulators in the EU, U.S., and U.K. are approaching stablecoins, what lessons we can learn from recent depegs, and how to design systems that prevent future emergencies. Listen in: https://lnkd.in/eKq2p2w4

Sharing a significant milestone in the Crystal's history. Our hard-working team has released a stablecoin intelligence hub that provides excellent assistance to compliance and market leaders, as well as exchanges. Crystal Foresight transforms raw data into a clear intelligence tool, providing greater clarity and aiding in informed decision-making.

Data are main driver to understand every move in #stablecoin markets At Crystal Intelligence we are introducing Crystal Foresight 🔭- data solution that helps Stablecoins and RWA's issuers to track mint/burn ratios, exchange distribution, transfer volumes, cross-chain flows, user retention, and regulatory shifts. It's a single solutions that gives you foresight into your assets and your competitors. Here is a sneak peak into insights on USDT and USDT - and it's just simple example what we can do for your assets. https://lnkd.in/d3zJPvix

Introducing Crystal Foresight: Stablecoin Intelligence, Redefined Stablecoins have become the backbone of digital finance, yet understanding how funds move across chains, issuers, and entities is still far from simple. Crystal Foresight changes that. This is our new stablecoin intelligence hub, built for issuers, exchanges, compliance teams, and market leaders who need clarity, not fragments. With unified views of cross-chain flows, issuance and redemption trends, market liquidity, and compliance layers, Foresight turns raw on-chain data into decision-ready intelligence. It’s how you move from asking “what happened?” to knowing “what to do next.” Learn more about Crystal Foresight and how it’s redefining stablecoin intelligence: https://lnkd.in/djbqKEYQ

Our new platform transforms complex on-chain data into actionable insights for issuers, exchanges, and compliance teams. Proud to see how Foresight is setting a new standard for clarity and intelligence in the Stablecoin Ecosystem:) 👉 Learn more: https://lnkd.in/eT-Up7Yc #Stablecoins #BlockchainAnalytics #CryptoCompliance #DigitalFinance #DataIntelligence #Innovation #CrystalBlockchain

Excited to share Crystal Foresight — Crystal Intelligence’s newest product extension and your ultimate stablecoin intelligence platform. Stablecoins anchor on‑chain liquidity across dozens of networks, but tracking them across chains, issuers and intermediaries is anything but straightforward. Foresight fixes that by stitching cross‑chain flows, mint and burn events, market liquidity, and wallet attribution into one decision‑ready view. With Foresight, you get a unified lens on: - End‑to‑end cross‑chain transfers - Labeled counterparties (issuers, bridges, CEXs, protocols) - Issuance & redemption trends and peg dynamics - Market microstructure & liquidity snapshots - Compliance flags & risk scores & programmable alerts - Custom dashboards & APIs to power your own analyses. DM me if you’d like to learn more!