Stablecoin Market Intelligence
· Updated daily at 15:40 UTC
As of August 30, 2026, the stablecoin market totaled $301.7B, with Tether (USDT) at 60.8% of supply and USDC at 24.5%. Market concentration (HHI) reads 4251, highly concentrated.
Institutional-grade stablecoin analytics, updated daily. Indicators span four chapters: market structure (cap, dominance, concentration, velocity), macro transmission (SOFR, real rates, yield curve, Fed liquidity, inflation, risk sentiment), DeFi carry (Aave/Compound yields vs T-bills, multi-pool comparison), and dollarization regimes (DXY, gold, EM stress, EUR stablecoins). Together they form a framework for assessing stablecoin markets across cyclical and structural lenses. It adapts macro, liquidity, concentration and risk indicators commonly used in financial-market analysis to the stablecoin market.
Built for
Central banks & multilaterals
Financial-stability monitoring and cross-border dollarization tracking
Enterprise treasury
CFOs, treasurers, T-bill vs DeFi allocation decisions; FX hedging via stablecoins
DeFi risk teams
Protocol risk officers, depeg signals, redemption pressure, concentration monitoring
Regulators & policy analysts
Treasury, ESMA, FSB analysts, systemic-risk indicators, MiCA compliance context, issuer landscape
Total Market Cap
$301.7B
as of Aug 2026
USDT Dominance
60.8%
-0.0pp vs 90D
USDC Dominance
24.5%
-0.1pp vs 90D
90D Market Growth
-2.3%
-$7.2B added
Market Data
Market Cap
Total Stablecoin Market Cap
Total USD value of all stablecoins tracked.
Framework
Monetary Aggregates (S0 / S1 / S2)
Base supply, bridge-wrapped representations and claim-lineage wrappers, with the representation multiplier — gross dollar claims per dollar of base stablecoin.
Monitor
Issuer Reserve Income
Estimated annualized reserve income across USD par-pegged issuers — supply × the 3-month T-bill rate — with a per-issuer breakdown. A stated-assumption estimate, updated daily.
News Intelligence
News Topic Map & Coverage Shifts
A co-occurrence map of stablecoin news topics and which topics are gaining or losing coverage, over rolling 15/30/60-day windows.
Dominance
USDT vs USDC Dominance
USDT and USDC percentage share of total stablecoin market cap over time.
Indicators
Indicator
Market Concentration (HHI)
Herfindahl-Hirschman Index across all tracked stablecoins. 2023 DOJ/FTC threshold: >1,800 is highly concentrated.
4251
Highly Concentrated
Indicator
Velocity Index
Aggregate monetary velocity (V = Volume ÷ Market Cap), 7-day rolling average. MV=PQ framework.
0.270
Payment / Settlement
Indicator
Peg Stability
Rolling 30-day peg stability score per stablecoin, based on mean absolute deviation from $1.00 and depeg event count (>0.5% threshold).
99
Stable Market
Indicator
Supply Shock Index
SSI = rolling 30-day % change in total stablecoin market cap. Above 6% signals a supply shock; below 0 = net redemption.
+2.01%
Normal Expansion
Indicator
Redemption Pressure
Per-coin 7D / 30D / 90D market cap flow analysis. Traffic-light table across coins ≥$500M. Net 30D aggregate flow.
+$6.0B
Net Inflow · 30D
Indicator
Market Correlation
30-day Pearson correlation of daily market cap % changes between USDT and USDC. High readings are consistent with common macro drivers; low readings with issuer-specific dynamics.
-0.01
Diverging · USDT ↔ USDC
Indicator
Liquidity Depth Score
L = Volume ÷ √Market Cap. Normalizes liquidity by size, provides a comparable liquidity proxy across coins from supply scale. Critical for institutional execution decisions.
4.71
Adequate · Aggregate
Indicator
Market Beta
Rolling 90-day OLS β per coin vs total market. β > 1 = amplifies market moves. β < 1 = defensive or counter-cyclical.
0.47
Counter-cyclical · USDC 90D β
Indicator
Granger Causality
Rolling 60-day Granger F-test: does USDT lead or lag USDC in market cap changes? F > 3.84 = significant. Reveals monetary leadership between the two largest issuers.
0.56
Neither (p > 0.05)
Indicator
PCA, Market Factor Analysis
Jacobi eigendecomposition of the stablecoin returns covariance matrix. PC1 captures the dominant market-wide factor. PC2 reveals structural differentiation between coin types.
14.2%
PC1 · PYUSD leads
Indicator
Behavioral Clustering
K-means on velocity, growth rate, volatility and beta, all size-normalized. Groups stablecoins by how they behave, not how large they are. Elbow-selected k.
4 clusters
Volatile / Emerging
Indicator
Adoption Curve
Logistic S-curve fit to each coin's market cap history. Reveals each stablecoin's position in its adoption lifecycle: Early Growth, Acceleration, Maturity, or Saturation.
RLUSD · 124%
1 in growth
Indicator
Cross-Chain Entropy
Shannon entropy of stablecoin supply distribution across 150+ blockchains. Tracks whether settlement is concentrating or fragmenting over time.
2.27 bits
Highly Concentrated · Ethereum 48.5%