The total market capitalization of the global stablecoin market has reached approximately $305.4 billion, continuing to grow amid the widespread adoption of digital dollars in cryptocurrency payments, trading, and decentralized finance, according to Fixygen.
According to DefiLlama, as of September 10, 2026, the supply of stablecoins has increased by approximately $1.69 billion, or 0.56%, over the past seven days, and by 1.6% over the past 30 days.
Tether (USDT) remains the largest stablecoin with a market capitalization of about $183.4 billion. It accounts for approximately 60% of the entire segment.
In second place is USDC, issued by Circle, with a market capitalization of about $74.5 billion. Over the past month, its supply has increased by approximately 3%.
Thus, the two largest dollar-pegged stablecoins alone control about 84.4% of the entire market.
In third place is Sky Dollar (USDS) with a market capitalization of approximately $6.64 billion, followed by DAI at $4.79 billion and Ethena USDe at approximately $4.44 billion.
USDe has recently shown the most notable growth among major stablecoins: its market capitalization has increased by approximately 13% over the past month.
The growth in stablecoin market capitalization is an important indicator of the state of the cryptocurrency market. Unlike the rise in the value of Bitcoin or Ethereum, an increase in the market capitalization of dollar-pegged tokens largely signifies the emergence of additional nominal volume of digital dollars that can be used for trading, remittances, lending, and other transactions within the cryptoeconomy.
Therefore, the growth in the supply of stablecoins is often viewed as an indicator of increased available liquidity. However, this in itself does not guarantee further growth in Bitcoin or other crypto assets—some of the funds may be used for settlements, international transfers, or held outside of risky assets.
The market structure remains extremely concentrated: USDT accounts for six out of every ten dollars of the segment’s market capitalization, and the gap between Tether and its closest competitor, USDC, exceeds $108 billion.
Stablecoins are digital tokens whose value is typically pegged to traditional currencies, primarily the U.S. dollar. They are one of the main settlement instruments in the cryptocurrency market and, at the same time, are increasingly being used beyond its borders for international payments and money transfers.
Data source: DefiLlama Stablecoins
