Market cap: $2.26T ▼ 6.43% 24h volume: $75.30B Dominance: BTC 59.5% ETH 10.3% Futures open interest: $18.03B ETH gas: 0.13 gwei Fear and Greed: 13

Stablecoin Market Cap and Supply

Stablecoins are tokens designed to keep a steady price, usually one US dollar. Their total supply is a useful gauge of how much cash is waiting on crypto rails. Data from DefiLlama, refreshed every hour.

Updated 42 min ago
Dollar stablecoins
$287.77B
Change 7d
-1.52%
-$4.44B
Change 30d
-5.40%
Change 90d
-3.23%
Stablecoins tracked
445
Largest
USDT
60.9% of dollar supply

Dollar Stablecoin Supply

DefiLlama

Largest Stablecoins

#StablecoinPegBackingSupplyPrice1d7d30dChains
1 Tether USDT USD Fiat backed $175.21B $0.9991 ▼ 0.18% ▼ 0.92% ▼ 4.70% 131
2 USD Coin USDC USD Fiat backed $69.28B $0.9999 ▼ 0.26% ▼ 1.85% ▼ 4.81% 162
3 Sky Dollar USDS USD Crypto backed $5.35B $0.9999 ▼ 0.62% ▼ 4.24% ▼ 22.13% 8
4 Ethena USDe USDe USD Crypto backed $4.91B $0.9994 ▲ 0.20% ▼ 0.26% ▲ 3.17% 34
5 Dai DAI USD Crypto backed $4.65B $1.0001 ▼ 0.15% ▼ 0.49% ▼ 1.75% 50
6 World Liberty Financial USD USD1 USD Fiat backed $3.12B $0.9982 ▼ 1.46% ▼ 11.55% ▼ 24.68% 8
7 Ripple USD RLUSD USD Fiat backed $2.78B $0.9999 ▲ 3.38% ▲ 3.48% ▲ 15.15% 6
8 Global Dollar USDG USD Fiat backed $2.65B $0.9999 ▼ 0.67% ▼ 2.75% ▼ 11.98% 8
9 PayPal USD PYUSD USD Fiat backed $2.59B $0.9995 ▼ 3.07% ▼ 5.89% ▼ 9.72% 21
10 United Stables U USD Crypto backed $1.63B $0.9995 ▲ 0.25% ▲ 1.12% ▲ 3.92% 4
11 Falcon USD USDf USD Crypto backed $1.56B $0.9953 ▼ 6.22% ▼ 6.19% ▼ 9.37% 4
12 USDD USDD USD Crypto backed $1.49B $0.9982 ▲ 0.03% ▼ 1.81% ▼ 15.29% 4
13 USDGO USDGO USD Fiat backed $1.08B $0.9997 ▼ 1.37% ▼ 4.74% ▼ 14.25% 3
14 Open USD OUSD USD Fiat backed $956.4M $0.9985 ▲ 0.34% ▲ 5.27% ▲ 18.46% 4
15 EURC EURC EUR Fiat backed $564.9M $1.1009 ▼ 1.35% ▲ 0.47% ▲ 6.09% 13
16 Usual USD USD0 USD Fiat backed $537.6M $0.9986 ▼ 0.10% ▼ 0.45% ▼ 0.70% 2
17 Multipli rwaUSDi rwaUSDi USD Crypto backed $536.9M $0.9999 ▲ 5.49% ▲ 10.15% ▲ 10.15% 8
18 Polymarket USD pUSD USD Crypto backed $498.6M $0.9998 ▼ 0.71% ▼ 0.23% ▲ 1.73% 1
19 YLDS YLDS USD Fiat backed $486.1M $0.9995 ▼ 0.31% ▲ 4.33% ▼ 4.54% 3
20 TrueUSD TUSD USD Fiat backed $484.0M $0.9990 ▲ 0.00% ▲ 0.00% ▲ 0.00% 10
21 Ethena USDtb USDTB USD Fiat backed $348.0M $0.9991 ▲ 0.00% ▼ 22.05% ▼ 32.82% 2
22 SoFiUSD SOFID USD Fiat backed $321.3M $0.9991 ▼ 0.93% ▲ 1.63% ▼ 9.35% 5
23 Gate USD GUSD USD Fiat backed $319.3M $0.9977 ▲ 0.00% ▲ 0.00% ▲ 0.00% 1
24 First Digital USD FDUSD USD Fiat backed $280.8M $0.9963 ▼ 0.70% ▼ 0.69% ▼ 11.69% 6
25 apxUSD apxUSD USD Crypto backed $277.3M $0.9901 ▲ 0.00% ▲ 0.00% ▼ 8.80% 4
Supply changes show coins created or removed, not price moves. Prices more than 0.5% away from $1 are marked in orange.

Why stablecoin supply matters

New stablecoins are usually created when someone deposits dollars with the issuer, and destroyed when someone takes dollars out. Rising supply therefore often means fresh money is coming into crypto, while falling supply can mean money is leaving.

Not all stablecoins work the same way. Some are backed by cash and short-term government bonds, some by other crypto coins, and some by trading strategies. The backing column shows how DefiLlama classifies each one. A stablecoin trading noticeably below $1 is a warning sign worth checking.

Learn more in the stablecoin guide.