Stablecoin Supply Slips 0.31% In A Week As USDC Sheds $1.1B

Stablecoin supply slipped 0.31% over seven days, according to DefiLlama's stablecoin page, which puts the total at $305.98 billion. That small headline hides a sharp split underneath. USDC shed about $1.1 billion this week, while Sky's USDS added $313 million. USDS now ranks third by value at $6.82 billion.

USDC leads the drop in stablecoin supply

USDC stands at $73.13 billion on the page. That is 1.47% lower than a week ago and 1.65% lower than a month ago. Tether's USDT held its ground at $184.07 billion and now makes up 60.16% of the total, which is why USDC's slide barely dents the category figure.

We covered the earlier stretch of this slide in our USDC supply report. The weekly loss above is larger than any move among the other major coins.

DefiLlama's stablecoin overview with total market cap, the seven-day change and USDT dominance.

Who grew and who shrank

Ethena's USDe fell 2.91% to $4.76 billion, a loss of roughly $144 million. World Liberty Financial's dollar token dropped 3.76% to $4.28 billion. Ripple's RLUSD slipped 2.26% to $2.45 billion, and DAI edged down 0.84%.

Growth came from smaller names. Falcon's USDf rose 8.23% to $1.65 billion and is up 40.7% on the month, a run we followed in our earlier USDf story. USDD gained 5.98%. Ondo's USDY added 5.3% to $2.32 billion, and PayPal's PYUSD rose 1.06% to $2.88 billion.

The one-month view

Stretch the window to 30 days and stablecoin supply tells another story. USDS is up 6.87% and USDe is up 5.02% on the month even though USDe lost ground this week. Global Dollar's USDG moved the other way, down 1.67% on the week and 6.28% on the month to $3.04 billion. United Stables' U, at $1.55 billion, is up 21.12% over 30 days, one of the sharper gains on the ranking.

Tokenized funds tell a different story

The yield-bearing products move on their own logic. BlackRock's BUIDL holds $2.20 billion after falling 1.96% in a week and 20.12% in a month. Circle's USYC holds $2.38 billion, down 0.86% on the week and 8.44% on the month. These are tokenized money-market products and not payment coins, so supply changes when holders redeem or switch between funds.

The page prices USYC at $1.14 and USDY at $1.15. That is how accruing yield shows up there, in the price of each token instead of in extra supply.

What the stablecoin supply table does not show

Each row lists the gap to a $1 peg, and every coin above sits within half a percent of it. Shifts in stablecoin supply like these point to where holders chose to park cash this week and say nothing about stress at any issuer.

DefiLlama's ranking table, ranks 2 to 15.

We read every percentage here on October 11, 2026. DefiLlama updates the page continuously, so open it yourself and the numbers will have moved.