Stablecoin Market Cap: Largest Stablecoins by Supply
The 25 largest stablecoins by circulating supply, how they keep their peg, their current price and how many blockchains they are issued on. Source: third-party public DeFi data.
Last updated · Shareable image cards of every table are on the Tradexus Data homepage.
| # | Stablecoin | Backing | Peg | Circulating | 7d | Price | Chains | Share |
|---|---|---|---|---|---|---|---|---|
| 1 | TetherUSDT | Fiat Backed | USD | $183.48B | -0.45% | $0.9992 | 130 | 60.0% |
| 2 | USD CoinUSDC | Fiat Backed | USD | $72.61B | -0.89% | $0.9998 | 157 | 23.7% |
| 3 | Sky DollarUSDS | Crypto Backed | USD | $7.06B | +3.36% | $0.9999 | 7 | 2.3% |
| 4 | DaiDAI | Crypto Backed | USD | $4.73B | -0.55% | $1.0002 | 49 | 1.5% |
| 5 | Ethena USDeUSDe | Crypto Backed | USD | $4.70B | -2.53% | $0.9995 | 31 | 1.5% |
| 6 | World Liberty Financial USDUSD1 | Fiat Backed | USD | $4.08B | -5.43% | $0.9994 | 8 | 1.3% |
| 7 | Global DollarUSDG | Fiat Backed | USD | $3.03B | -1.32% | $1.0002 | 8 | 1.0% |
| 8 | PayPal USDPYUSD | Fiat Backed | USD | $2.81B | -2.59% | $0.9998 | 19 | 0.9% |
| 9 | Ripple USDRLUSD | Fiat Backed | USD | $2.39B | -3.61% | $1.0003 | 2 | 0.8% |
| 10 | BlackRock USDBUIDL | Fiat Backed | USD | $2.17B | -1.34% | $1.0000 | 8 | 0.7% |
| 11 | USDDUSDD | Crypto Backed | USD | $1.76B | +10.16% | $0.9983 | 4 | 0.6% |
| 12 | Falcon USDUSDf | Crypto Backed | USD | $1.72B | +3.91% | $0.9951 | 2 | 0.6% |
| 13 | United StablesU | Crypto Backed | USD | $1.57B | +2.04% | $0.9995 | 4 | 0.5% |
| 14 | USDGOUSDGO | Fiat Backed | USD | $1.28B | -1.95% | $1.0002 | 3 | 0.4% |
| 15 | Open USDOUSD | Fiat Backed | USD | $824.64M | +4.45% | $0.9998 | 4 | 0.3% |
| 16 | GHOGHO | Crypto Backed | USD | $698.13M | 0.00% | $0.9987 | 2 | 0.2% |
| 17 | Usual USDUSD0 | Fiat Backed | USD | $541.66M | -0.16% | $0.9991 | 2 | 0.2% |
| 18 | Ethena USDtbUSDTB | Fiat Backed | USD | $517.51M | +3.65% | $0.9994 | 2 | 0.2% |
| 19 | YLDSYLDS | Fiat Backed | USD | $506.17M | +2.33% | $0.9994 | 3 | 0.2% |
| 20 | Polymarket USDpUSD | Crypto Backed | USD | $492.58M | +0.58% | $0.9994 | 1 | 0.2% |
| 21 | Multipli rwaUSDirwaUSDi | Crypto Backed | USD | $487.36M | 0.00% | $0.9998 | 7 | 0.2% |
| 22 | TrueUSDTUSD | Fiat Backed | USD | $483.95M | 0.00% | $0.9989 | 10 | 0.2% |
| 23 | Neutrino USDUSDN | Algorithmic | USD | $408.89M | 0.00% | — | 4 | 0.1% |
| 24 | SoFiUSDSOFID | Fiat Backed | USD | $357.43M | +6.30% | $0.9996 | 5 | 0.1% |
| 25 | Gate USDGUSD | Fiat Backed | USD | $319.27M | 0.00% | $0.9977 | 1 | 0.1% |
Frequently asked questions
What is a stablecoin?
A stablecoin is a crypto token designed to keep a steady value, usually one US dollar. Most are backed by cash and short-term government bonds held by the issuer; others are backed by crypto collateral or use an algorithm.
What does "fiat-backed" mean?
The issuer holds reserves in traditional money or short-term government securities for every token in circulation, and lets approved customers redeem tokens for those reserves.
Why does the stablecoin supply matter for crypto markets?
Stablecoins are the main cash used to trade crypto. A growing supply is often read as new money waiting to be invested; a shrinking supply as money leaving the market.
Data aggregated from public third-party market sources. For informational purposes only — not investment advice.