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![HerondBrowser Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1654332428847284224.png) Herond Browser [@HerondBrowser](/creator/twitter/HerondBrowser) on x 58.4K followers
Created: 2025-06-19 14:20:00 UTC

Stablecoin wars are heating up again — and $ENA is leading the pack with a $1.6B market cap 📈 $CRV, $FRAX, $TRIBE and others are chasing hard.

In this cycle, stability alone isn’t enough. Narratives, ecosystem reach, and yield dynamics now define who leads.

Who will take the lead this season? 👇

Top stablecoin protocols
@ethena_labs | $ENA
@curvefinance | $CRV
@fraxfinance | $FRAX
@feiprotocol | $TRIBE
@usualmoney | $USUAL
@MIM_Spell | $SPELL
@sparkdotfi | $SPK
@LiquityProtocol | $BOLD
@dForcenet | $DF
@ResolvLabs | $RESOLV
@Ampleforth | $AMPL

![](https://pbs.twimg.com/media/GtxwAeNbQAAVBdK.jpg)

XXXXXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1935704120159289854/c:line.svg)

**Related Topics**
[market cap](/topic/market-cap)
[crv](/topic/crv)
[ena](/topic/ena)
[fraxfinance](/topic/fraxfinance)
[ethenalabs](/topic/ethenalabs)
[narratives](/topic/narratives)
[$16b](/topic/$16b)
[coins stablecoin](/topic/coins-stablecoin)

[Post Link](https://x.com/HerondBrowser/status/1935704120159289854)