On-chain liquidity · updated daily
Stablecoin Market Cap
The combined circulating supply of USD-pegged stablecoins — the dollars that sit on-chain and on exchanges, ready to move into or out of crypto markets.
Total stablecoin supply (USD-pegged) · as of Nov 7, 2026
Chart
Stablecoin Market Cap history
Total circulating supply of USD-pegged stablecoins, daily, last 12 months.
Data
Largest stablecoins today
| Stablecoin | Supply | Share | 7d | 30d |
|---|---|---|---|---|
| USDT · Tether | $176.8B | 60.5% | -1.72% | -3.99% |
| USDC · USD Coin | $70.7B | 24.2% | -1.71% | -4.31% |
| USDS · Sky Dollar | $5.6B | 1.9% | -13.33% | -18.91% |
| USDe · Ethena USDe | $4.9B | 1.7% | +8.94% | +0.82% |
| DAI · Dai | $4.7B | 1.6% | -1.06% | -2.22% |
| USD1 · World Liberty Financial USD | $3.5B | 1.2% | -10.94% | -21.78% |
| PYUSD · PayPal USD | $2.7B | 0.9% | -3.44% | -4.85% |
| USDG · Global Dollar | $2.7B | 0.9% | -7.37% | -12.23% |
What this number is
Stablecoins are tokens designed to hold a steady value, almost always one US dollar. Their market cap is simply the number of tokens in circulation, because each is meant to be worth $1. The figure here sums USD-pegged stablecoins tracked by DefiLlama across all chains.
Supply grows when issuers mint new tokens against deposits and shrinks when tokens are redeemed. USDT (Tether) and USDC (Circle) together make up most of the total.
Why it matters
Stablecoins are the main cash leg of crypto trading and of on-chain lending. A rising total is often read as new money arriving in the ecosystem; a falling total as capital leaving. It is one of the few market-wide liquidity measures that is fully public.
It is not a direct measure of buying: newly minted stablecoins can sit idle, be used for payments, or move between exchanges. Changes over weeks say more than single-day moves, and large swings in one issuer (for example after regulatory news) can dominate the total.
Frequently asked questions
What is the total stablecoin market cap today?
The current total supply of USD-pegged stablecoins is shown at the top of this page, refreshed daily from DefiLlama.
What is the largest stablecoin?
USDT (Tether) has been the largest stablecoin by circulating supply for years, followed by USDC. The table on this page lists today's largest stablecoins and their share of the total.
Why does stablecoin supply matter for crypto prices?
Stablecoins are the dollars of the crypto economy. Growing supply is commonly read as more liquidity available to the market, shrinking supply as liquidity leaving. It is context, not a price forecast.
Does this include euro or gold stablecoins?
No. The total covers USD-pegged stablecoins only, which account for the vast majority of stablecoin supply.
Keep reading
More market context
- Today's crypto brief — the 10 stories moving the market, with sources
- Crypto Fear & Greed Index — 28 today
- Bitcoin Funding Rate — +0.0091% today
- Follow @cryptodsignal on X for the daily brief
Source: DefiLlama stablecoin data.
Free newsletter
Get these numbers in your inbox
Every morning: today's Fear & Greed, stablecoin flows and funding rates, plus the 10 stories moving crypto and why they matter. Free.