Stablecoin Recap May 25–Jun 1, 2026: USDT and USDC dominance shifts slightly with $2.82 billion market cap decline.

The total market capitalization of stablecoins decreased from $328.55 billion to $325.72 billion, a decline of $2.82 billion or 0.86%. During a week that also saw the SEC approve Paxos as a 'blockchain-native' clearing agency, market movements showed a mix of gains and losses among individual stablecoins.

Staked USD1+ led the inflows with an increase of $0.098 billion. Ethena USDe followed, adding $0.049 billion, while Saturn Dollar gained $0.044 billion. PayPal USD experienced the largest outflow, losing $0.545 billion. USDC saw a reduction of $0.374 billion, and Global Dollar decreased by $0.101 billion. Mastercard received a NY BitLicense, indicating a shift towards direct stablecoin settlement.

USDT ended the week with a dominance of 57.7%, a slight increase of 0.04 percentage points. USDC's dominance rose by 0.09 percentage points to 23.3%. Depeg events affected several stablecoins: USDL fell to $1.033, 3.3% off its peg; USD1 dropped to $1.069, 6.9% off; and USDB slipped to $0.9797, 2.03% below its peg. The StablR Euro and US dollar stablecoins depegged following a $2.8 million exploit. Additionally, US and UK central bankers offered differing perspectives on stablecoins.

XBIT DEX, a decentralized exchange, opened a whitelist for prediction leverage, launching a 35,000 USDC campaign as prediction markets entered the derivatives era. No directly relevant macro developments were recorded this week.