Stablecoin Tracker
Stablecoins are crypto tokens that try to stay worth exactly $1. They are the cash of the crypto market: when their total supply grows, new money is arriving and waiting to be spent; when it shrinks, money is leaving.
- Backed by cash & bonds $274B 91.1%
- Backed by crypto $26.0B 8.7%
- Algorithmic $669M 0.2%
Updated 31 Oct 2026. Supply is counted in US dollars.
Off-peg watch
3 dollar stablecoins worth $50M or more are more than 1% away from $1 right now:
- apxUSD apxUSD$0.9894−1.1% · $283M supply
- AP USDA USDA$0.9561−4.4% · $83M supply
- pmUSD pmUSD$0.5406−45.9% · $51M supply
Total supply since 2020, next to the Bitcoin price
Hover or tap the chart to see any day. Supply rose from about $5 billion in early 2020 to about $185 billion in spring 2022, shrank to about $120 billion after the 2022 crash, and started growing again in late 2023, as Bitcoin began its next big rise. More stablecoins does not guarantee higher prices, but it shows how much cash is ready to buy.
The 20 biggest stablecoins
| # | Stablecoin | Backed by | Supply | Share | 7 days | 30 days | Price | Peg |
|---|---|---|---|---|---|---|---|---|
| 1 | Tether USDT | Backed by cash & bonds | $180B | 59.8% | −1.5% | −2.2% | $0.9994 | On peg |
| 2 | USD Coin USDC | Backed by cash & bonds | $71.9B | 23.9% | +0.0% | −3.1% | $0.9999 | On peg |
| 3 | Sky Dollar USDS | Backed by crypto | $6.4B | 2.1% | −4.8% | −4.1% | $1.0005 | On peg |
| 4 | Dai DAI | Backed by crypto | $4.7B | 1.6% | −0.3% | −1.2% | $1.0004 | On peg |
| 5 | Ethena USDe USDe | Backed by crypto | $4.5B | 1.5% | −2.1% | −7.5% | $0.9988 | On peg |
| 6 | World Liberty Financial USD USD1 | Backed by cash & bonds | $3.9B | 1.3% | −2.0% | −12.2% | $0.9983 | On peg |
| 7 | Global Dollar USDG | Backed by cash & bonds | $2.9B | 1.0% | −5.3% | −5.6% | $1.0002 | On peg |
| 8 | PayPal USD PYUSD | Backed by cash & bonds | $2.8B | 0.9% | −3.8% | +3.0% | $1.0001 | On peg |
| 9 | Ripple USD RLUSD | Backed by cash & bonds | $2.4B | 0.8% | −2.1% | +0.7% | $1.0002 | On peg |
| 10 | BlackRock USD BUIDL | Backed by cash & bonds | $2.0B | 0.7% | −7.3% | −10.6% | $1.0000 | On peg |
| 11 | Falcon USD USDf | Backed by crypto | $1.7B | 0.6% | −2.8% | +38.4% | $0.9901 | On peg |
| 12 | United Stables U | Backed by crypto | $1.6B | 0.5% | −0.2% | +7.3% | $0.9994 | On peg |
| 13 | USDD USDD | Backed by crypto | $1.5B | 0.5% | −16.2% | −1.1% | $0.9986 | On peg |
| 14 | USDGO USDGO | Backed by cash & bonds | $1.3B | 0.4% | −3.7% | +6.4% | $1.0002 | On peg |
| 15 | Open USD OUSD | Backed by cash & bonds | $887M | 0.3% | +5.9% | +80.8% | $1.0002 | On peg |
| 16 | GHO GHO | Backed by crypto | $698M | 0.2% | 0.0% | 0.0% | $0.9984 | On peg |
| 17 | EURC EURC | Backed by cash & bonds | $561M | 0.2% | +4.4% | +9.5% | $1.1145 | Not USD |
| 18 | Usual USD USD0 | Backed by cash & bonds | $541M | 0.2% | −0.0% | −0.9% | $0.9991 | On peg |
| 19 | Ethena USDtb USDTB | Backed by cash & bonds | $514M | 0.2% | −0.5% | −4.2% | $0.9991 | On peg |
| 20 | YLDS YLDS | Backed by cash & bonds | $493M | 0.2% | +0.4% | −2.0% | $0.9992 | On peg |
“Off peg” means a dollar stablecoin trades more than 1% away from $1. “Not USD” coins are tied to another currency, such as the euro, so their price in dollars is not $1.
Where the stablecoins are
The blockchains that hold the most stablecoins. Most of the dollars sit on Ethereum and Tron; Tron is where much of the world sends USDT payments, because transfers there are cheap. Change is over the last 30 days.
- Ethereum$142B47.4%−2.7%
- Tron$93.9B31.2%−0.0%
- Solana$15.5B5.1%−4.6%
- BNB Chain$14.3B4.8%−1.5%
- Hyperliquid$6.7B2.2%−9.9%
- Base$5.2B1.7%+0.3%
- Arbitrum$3.9B1.3%−2.3%
- Polygon$3.4B1.1%−2.4%
- Avalanche$1.4B0.5%−12.2%
- X Layer$1.4B0.5%−10.8%
Three kinds of stablecoin
- Backed by cash & bonds (USDT, USDC, PYUSD). A company holds a real dollar or a short-term US government bond for every token. Simple, but you trust that company and its bank.
- Backed by crypto (DAI, USDS, USDe). Locked crypto worth more than the tokens backs them, managed by code. No single company, but the crypto behind them can fall in value.
- Algorithmic. Code and incentives try to hold the price, with little or nothing behind it. This is the riskiest kind.
Read our reviews of Tether (USDT) and USDC, or browse all stablecoin and payment projects.
Why losing the peg matters
A stablecoin is only useful while it is worth $1. Two famous breaks:
- TerraUSD (UST), May 2022. An algorithmic stablecoin worth about $18 billion fell to almost zero in a week and dragged the whole market down.
- USDC, March 2023. Part of its cash was stuck in Silicon Valley Bank when the bank failed. USDC briefly fell to about $0.87 and recovered once the money was safe.
Keep most of your savings in the largest, most transparent stablecoins, spread them out, and be careful with high “stable” yields: they are paid for with risk. In Europe, MiCA rules decide which stablecoins exchanges may offer — see MiCA and crypto exchanges in Europe.
Stablecoin data: DefiLlama (supply and prices; the list refreshes when you open this page). Bitcoin price: CoinMarketCap (daily close, USD). Off-peg watch covers dollar stablecoins worth $50M or more. Not financial advice.