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The stablecoin sector added to its upward trajectory this week, with inflows reaching $1.367 billion since April 4. At present, the fiat-pegged token economy sits at an all-time high of $318.605 billion.
Key Takeaways:
- The stablecoin market hit an all-time high of $318.6B, needing just $1.4B to reach $320B.
- $USDC gained $1.27B in seven days while Ethena’s $USDe has fallen 60.61% since October 2025.
- Blackrock’s BUIDL posted the week’s top gain at 5.29%, signaling rising institutional demand.
Stablecoin Sector Just $1.4 Billion Away From $320 Billion Milestone
Figures compiled by defillama.com show the stablecoin economy expanded by 0.43% over the past week. At $318.605 billion, the sector needs just $1.395 billion more, or 0.438%, to reach the $320 billion milestone. Tether ( $USDT) continues to hold the top position, with a market capitalization of $184.305 billion and a measured seven-day increase of 0.10%.
$USDT commands a 57.85% share of the market, though that dominance has been gradually easing in recent weeks, slipping below the 60% mark. Trailing behind is $USDC, issued by Circle, with a market capitalization of $78.763 billion and a stronger weekly performance, posting a 1.64% gain. That translates to an additional $1.272 billion flowing into $USDC reserves over the past week.
Holding the third spot is USDS from Sky, carrying a market capitalization of $8.706 billion despite a 2.45% weekly decline. Even so, USDS has expanded at a brisk pace since March 1, when its market cap stood at $7.35 billion. Over the past 41 days, that amounts to an 18.44% increase, or a $1.356 billion gain in absolute terms. $USDe from Ethena moved in the opposite direction.
$USDe follows USDS with a $5.836 billion market cap and a 0.87% decline over the past seven days. Since the broader crypto market cap and bitcoin price highs in October 2025, $USDe’s circulating supply has been sharply reduced. On Oct. 4, $USDe carried a market cap of $14.82 billion, meaning Ethena’s stablecoin has fallen by 60.61%, a drop of $8.984 billion over that span.
Rounding out the top five is $DAI from Sky, holding a market capitalization of $4.665 billion with a 0.57% weekly decline. Over the past few years, $DAI’s market cap has remained relatively stable, allowing it to retain a top-five position for an extended period. The week’s steepest pullback came from $USD1, issued by World Liberty Financial ($WLFI), and the latest reduction may be tied to the controversy surrounding the project today.
$USD1 posted a 5.27% drop in market capitalization this week, shedding more than $232 million since April 4. $WLFI’s $USD1 now holds a market valuation of $4.184 billion. The week’s top performer was BUIDL from Blackrock, which climbed 5.29% over the past seven days. BUIDL added more than $149 million during that stretch, lifting its market cap to $2.983 billion.
The remaining members of the top ten cohort posted gains, with the exception of USYC from Circle, which recorded a modest 0.68% decline, shedding $18 million over the past week. Overall, the stablecoin sector held its footing this week despite mixed movement across individual tokens. Capital continued flowing into $USDC while USDS demonstrated steady, long-term growth.
$USDe’s contraction since October 2025 reflects how quickly circulating supply adjusts when market conditions shift. BUIDL’s climb signals continued institutional appetite for yield-bearing dollar instruments. With $318.6 billion in total value and the $320 billion threshold within reach, the sector is close to setting another record.