Stablecoin Market Cap Slips 0.34% In A Week As USD1 Falls 5.3%

The stablecoin market cap slipped again on October 17. DefiLlama puts the total at $302.542 billion, down 0.34% over seven days and 0.11% over the last 24 hours. The 30-day change is still positive, at 0.62%.

Under the total, one coin stands out. USD1, the stablecoin from World Liberty Financial, fell 5.33% in a week, the sharpest drop among the eight largest on the page.

What changed in the top eight

Tether's USDT holds $183.441 billion, which is 60.63% of the total, and it slipped 0.35% in seven days. Circle's USDC is next at $72.723 billion and lost 0.36%. Those two together are about 85% of everything, so their small percentage moves are large in dollars.

Run the percentages backwards and USDT shed roughly $645 million over the week, while USDC shed about $262 million. That is our own arithmetic from the page's weekly change figures.

Sky Dollar, ticker USDS, went the other way for the week. It is up 0.65% to $6.867 billion, but on the last day alone it dropped 2.88%, so the weekly gain is narrower than it was.

The rest of the market

Add up the eight coins in the table and they come to roughly $282.4 billion, about 93% of the total. That leaves around $20.2 billion spread across everything smaller. Both figures are our sums from the page.

The 30-day gain of 0.62% is worth about $1.9 billion in new supply, by the same method of running a percentage backwards. One week of net decline, then, has taken back roughly half of what a month added.

USD1 and the weekly laggards

USD1 stands at $4.048 billion. Its seven-day move of minus 5.33% works out to about $228 million, again by our division. The one-day change is minus 0.80%.

Next worst is Ethena's USDe, down 1.58% in a week at $4.709 billion. PayPal's PYUSD lost 1.46% to reach $2.834 billion, and Global Dollar's USDG lost 0.98% to $3.02 billion. Dai fell only 0.62% and stands at $4.725 billion.

DefiLlama's stablecoin ranking with market cap, price and 1-day and 7-day change. Source: DefiLlama.

Why the stablecoin market cap matters as a gauge

The total stablecoin market cap is a rough read on how much dollar-pegged money sits on chain. A 0.34% weekly dip is small beside the climb on the chart, which still sits close to its high. A weekly drop is worth tracking mainly because it shows when new supply stops arriving.

All eight coins in the table trade within 0.11% of a dollar, according to the off-peg column. The widest gap belongs to USDT at minus 0.11%, followed by USD1 at minus 0.10%.

The total stablecoin market cap since 2018 on DefiLlama. Source: DefiLlama.

Readers can check each coin themselves by sorting the page's table on the 7d change column, which puts USD1 at the bottom of the top eight. Supply figures move with every mint and redemption, so treat these as of October 17. This article reports published data and is not investment advice.