According to Wu, Blockworks Research analyst Jack has learned that the annualized supply of stablecoins in the Ethereum market of Aave has decreased from an average of about 5% at the end of summer to just above 3%; specifically, USDC, DAI, and USDT are slightly above 3%, while USDe, RLUSD, and USDS are as low as 1.5%. For users willing to engage in cross-chain activities, slightly higher yields can be found on other chains, but overall, the demand for stablecoins in DeFi is cooling down.