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.
Largest Stablecoins
| # | Stablecoin | Supply | Price | 1d | 7d |
|---|---|---|---|---|---|
| 1 | Tether USDT | $175.21B | $0.9991 | ▼ 0.18% | ▼ 0.92% |
| 2 | USD Coin USDC | $69.28B | $0.9999 | ▼ 0.26% | ▼ 1.85% |
| 3 | Sky Dollar USDS | $5.35B | $0.9999 | ▼ 0.62% | ▼ 4.24% |
| 4 | Ethena USDe USDe | $4.91B | $0.9994 | ▲ 0.20% | ▼ 0.26% |
| 5 | Dai DAI | $4.65B | $1.0001 | ▼ 0.15% | ▼ 0.49% |
| 6 | World Liberty Financial USD USD1 | $3.12B | $0.9982 | ▼ 1.46% | ▼ 11.55% |
| 7 | Ripple USD RLUSD | $2.78B | $0.9999 | ▲ 3.38% | ▲ 3.48% |
| 8 | Global Dollar USDG | $2.65B | $0.9999 | ▼ 0.67% | ▼ 2.75% |
| 9 | PayPal USD PYUSD | $2.59B | $0.9995 | ▼ 3.07% | ▼ 5.89% |
| 10 | United Stables U | $1.63B | $0.9995 | ▲ 0.25% | ▲ 1.12% |
| 11 | Falcon USD USDf | $1.56B | $0.9953 | ▼ 6.22% | ▼ 6.19% |
| 12 | USDD USDD | $1.49B | $0.9982 | ▲ 0.03% | ▼ 1.81% |
| 13 | USDGO USDGO | $1.08B | $0.9997 | ▼ 1.37% | ▼ 4.74% |
| 14 | Open USD OUSD | $956.4M | $0.9985 | ▲ 0.34% | ▲ 5.27% |
| 15 | EURC EURC | $564.9M | $1.1009 | ▼ 1.35% | ▲ 0.47% |
| 16 | Usual USD USD0 | $537.6M | $0.9986 | ▼ 0.10% | ▼ 0.45% |
| 17 | Multipli rwaUSDi rwaUSDi | $536.9M | $0.9999 | ▲ 5.49% | ▲ 10.15% |
| 18 | Polymarket USD pUSD | $498.6M | $0.9998 | ▼ 0.71% | ▼ 0.23% |
| 19 | YLDS YLDS | $486.1M | $0.9995 | ▼ 0.31% | ▲ 4.33% |
| 20 | TrueUSD TUSD | $484.0M | $0.9990 | ▲ 0.00% | ▲ 0.00% |
| 21 | Ethena USDtb USDTB | $348.0M | $0.9991 | ▲ 0.00% | ▼ 22.05% |
| 22 | SoFiUSD SOFID | $321.3M | $0.9991 | ▼ 0.93% | ▲ 1.63% |
| 23 | Gate USD GUSD | $319.3M | $0.9977 | ▲ 0.00% | ▲ 0.00% |
| 24 | First Digital USD FDUSD | $280.8M | $0.9963 | ▼ 0.70% | ▼ 0.69% |
| 25 | apxUSD apxUSD | $277.3M | $0.9901 | ▲ 0.00% | ▲ 0.00% |
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.