Research · Stablecoin Supply Tracker
Stablecoin Supply Tracker: Issuers, Chains, Monthly Flows
Stablecoin supply by issuer, blockchain, and monthly net flows. Updated monthly from on-chain data.
Latest reading as of . Methodology v1.
TL;DR
Stablecoin circulating supply stood at $309.04B as of 2026-07-16. Fiat-backed issuers make up 91.5 percent of supply. The top three stablecoins hold 85.4 percent.
Total stablecoin supply, monthly
| Period | Value |
|---|---|
| May | $311.1B |
| July | $309B |
Key figures
- Total stablecoin supply reached $309.0 billion as of 16 July 2026.
- Top three issuer concentration stood at 85.4 percent as of 16 July 2026.
- Fiat-backed share stood at 91.5 percent as of 16 July 2026.
- Active stablecoins reached 49 as of 16 July 2026.
- Chains carrying stablecoins reached 109 as of 16 July 2026.
Issuer leaderboard
| Rank | Issuer | Supply (USD) | Share |
|---|---|---|---|
| 1 | Tether | $184.0 billion | 59.6% |
| 2 | USD Coin | $73.3 billion | 23.7% |
| 3 | Sky Dollar | $6.7 billion | 2.2% |
| 4 | Dai | $4.9 billion | 1.6% |
| 5 | World Liberty Financial USD | $4.3 billion | 1.4% |
| 6 | Ethena USDe | $4.0 billion | 1.3% |
| 7 | Circle USYC | $3.0 billion | 1% |
| 8 | Global Dollar | $2.9 billion | 0.9% |
| 9 | PayPal USD | $2.8 billion | 0.9% |
| 10 | BlackRock USD | $2.6 billion | 0.8% |
Chain composition
| Rank | Chain | Supply (USD) | Share |
|---|---|---|---|
| 1 | Ethereum | $150.2 billion | 48.6% |
| 2 | Tron | $91.2 billion | 29.5% |
| 3 | BSC | $18.2 billion | 5.9% |
| 4 | Solana | $15.5 billion | 5% |
| 5 | Hyperliquid L1 | $6.3 billion | 2% |
| 6 | Base | $4.9 billion | 1.6% |
| 7 | Arbitrum | $4.0 billion | 1.3% |
| 8 | Polygon | $3.9 billion | 1.3% |
Backing mechanism
| Rank | Mechanism | Supply (USD) | Share |
|---|---|---|---|
| 1 | fiat-backed | $282.8 billion | 91.5% |
| 2 | crypto-backed | $25.9 billion | 8.4% |
| 3 | algorithmic | $293.3 million | 0.1% |