Stablecoin Market Tops $313 Billion as Sky's USDS Leads Weekly Gains

The stablecoin economy is once again scaling new heights, pushing past the $313 billion mark this weekend. Metrics from defillama.com show that Sky’s USDS posted the biggest percentage jump among the top ten fiat-pegged coins, climbing 8.5% over the last seven days.

Stablecoin Sector Climbs Beyond $313 Billion Amid Steady Inflows

The fiat-pegged token economy—largely composed of U.S. dollar coins—expanded 0.88% this week as $2.742 billion flowed in, according to stablecoin stats logged by defillama.com. Tether ( $USDT) still commands the market with a hefty $183.93 billion market cap and a modest seven-day gain of 0.16%. Tether’s dominance has slipped below the 60% range, now accounting for 58.76% of the $313.002 billion stablecoin sector.

Circle’s USDC, valued at $77.38 billion, logged a stronger weekly increase of 2.79%. Sky Dollar (USDS) holds third place with a $7.54 billion market cap and a notable 8.5% jump over the last seven days. As noted earlier, USDS led the pack this week in percentage growth among the top ten.

Image source: Defillama.com

Ethena’s USDe and World Liberty Financial’s USD1 come next with market caps of $5.95 billion and $4.61 billion, respectively, though both posted declines of 1.88% and 2.29%. Sky’s dai (DAI) remains a major contender with a $4.50 billion market cap and a 2.08% weekly increase, while Paypal’s PYUSD sits at $4.18 billion with a slight 0.39% dip this week.

Closing out the top ten are Blackrock’s BUIDL at $2.53 billion (up 1.94%), Circle’s USYC at $1.99 billion (up a notable 8.12%), and Falcon’s USDf with a market cap of $1.62 billion and a steady 0.07% seven-day change. The week’s figures show a stablecoin sector that continues to draw fresh capital while competition among issuers quietly intensifies.

With more than $313 billion now circulating, fiat-pegged tokens remain one of the most widely used instruments in the broader digital asset economy. Dollar-linked coins still dominate the sector, reflecting persistent demand for blockchain-based liquidity tied to the U.S. currency. At the same time, other fiat-pegged coins are attempting to enter the fray.

As inflows continue and market shares shift, the race among stablecoin issuers shows no signs of slowing in 2026.

FAQ 🧭

• What is the total size of the stablecoin market in 2026?
  The global stablecoin market has grown past $313 billion in total value, according to data from Defillama.
• Which stablecoin is the largest by market cap?
  Tether ( $USDT) remains the largest stablecoin with a market capitalization of about $183.9 billion.
• Which stablecoin gained the most this week?
  Sky’s USDS recorded the biggest weekly increase among the top ten stablecoins, rising about 8.5%.
• Why are stablecoins important to the crypto market?
  Stablecoins provide dollar-linked liquidity that traders use for payments, trading, and moving funds across crypto exchanges worldwide.