Once a $638M market, @aave Horizon has now slipped slightly below $400M in size. Early growth was driven by @SuperstateInc's USCC, but its market size has since declined sharply from $286M to $120M. A modest rotation is emerging, with Janus Henderson's JAAA now reaching $24M market size. @Ripple's RLUSD has remained the primary borrowed stablecoin against the RWA collateral set.