Live Market Data

Stablecoin Market Cap Tracker

Real-time market capitalization and supply metrics for all major stablecoins. Track capital inflows, market dominance, and liquidity conditions across USDT, USDC, DAI, and 50+ stablecoin assets.

Total Stablecoin Market Cap

$297.69B

+0.0% 7D

Top 3 Dominance

91.4%

Total Stablecoins

10+

USDT Dominance

61.8%

Market Breakdown by Asset

Rank	Stablecoin	Market Cap	Market Share	7D Change
1	USDT Tether	$184.10B	61.84%	0.00%
2	USDC USD Coin	$79.63B	26.75%	0.00%
3	USDS Sky Dollar	$8.34B	2.80%	0.00%
4	USDe Ethena USDe	$5.92B	1.99%	0.00%
5	DAI Dai	$4.55B	1.53%	0.00%
6	USD1 World Liberty Financial USD	$4.52B	1.52%	0.00%
7	PYUSD PayPal USD	$4.07B	1.37%	0.00%
8	BUIDL BlackRock USD	$2.54B	0.85%	0.00%
9	USYC Circle USYC	$2.37B	0.79%	0.00%
10	USDG Global Dollar	$1.66B	0.56%	0.00%

Why Stablecoin Supply Matters

Stablecoin market cap represents "dry powder" in the cryptocurrency ecosystem - capital that is ready to deploy into crypto assets at any moment. When stablecoin supply increases, it indicates new capital entering the ecosystem, which is typically bullish for crypto markets.

Conversely, when stablecoin supply decreases, it suggests capital is exiting the ecosystem entirely (converting back to fiat), which is generally bearish. This metric is more reliable than exchange balances because stablecoins can exist across DeFi, CEXs, and personal wallets while maintaining their role as "ready capital."

How to Interpret the Data

Rising Supply (Bullish)

New capital entering crypto. Investors converting fiat to stablecoins, preparing to buy crypto assets. Historically precedes or accompanies bull markets.

Falling Supply (Bearish)

Capital exiting crypto. Investors converting stablecoins back to fiat, reducing ecosystem liquidity. Often occurs during bear markets or risk-off periods.

Stable Supply (Neutral)

Equilibrium between inflows and outflows. Market participants are holding their positions, neither adding nor removing capital from the ecosystem.

Stablecoin Types

Fiat-Backed (USDT, USDC): Each token backed 1:1 by fiat currency reserves held in bank accounts or short-term treasuries. Most common type, representing ~90% of total stablecoin supply.

Crypto-Backed (DAI): Over-collateralized by crypto assets (e.g., ETH, BTC). Decentralized but exposes users to underlying crypto volatility. Requires 150%+ collateral to maintain $1 peg.

Algorithmic (USDE, FRAX): Use algorithmic mechanisms to maintain peg, often with partial backing. Higher risk but potentially more scalable. History of instability (see UST collapse in 2022).

USDT vs USDC: Market Dynamics

USDT (61.8% market share): Dominant in Asia, Latin America, and offshore markets. Preferred for trading due to deepest liquidity across CEXs and DEXs. Tether has never broken its $1 peg despite controversies around reserve transparency.

USDC (26.7% market share): Preferred by institutions and US-based traders. Full reserve transparency with monthly attestations. Circle (issuer) planning 2026 IPO. Gained share post-SVB crisis despite temporary depeg. Favored in DeFi protocols.

Data sourced from DefiLlama • Updated hourly • Covers 50+ stablecoins across all major blockchains • Not financial advice