Stablecoin Market Cap Analysis

Real-time market capitalization tracking and distribution analysis

Total Market Cap
$271.1B
Live Data
24h Trading Volume
$61.9B
22.8% of MCap
Market Leader
USDT
67.9% Share
Top 2 Dominance
95.2%
USDT + USDC

Market Share Distribution

1
Tether
USDT
$184.1B
67.9%
2
USD Coin
USDC
$74.0B
27.3%
3
Ethena USDe
USDe
$4.9B
1.8%
4
Dai
DAI
$4.6B
1.7%
5
PayPal USD
PYUSD
$2.9B
1.1%

Market Cap by Category

Fiat-Backed
$261.3B
96.4% of market
USDT, USDC, PYUSD
Crypto-Backed
$4.6B
1.7% of market
DAI, LUSD
Algorithmic
$5.1B
1.9% of market
USDe, FRAX

Complete Market Cap Rankings

Rank Stablecoin Category Market Cap 24h Volume Market Share 24h Change
1
Tether
USDT
 Fiat Backed
$184.1B
$48.2B
67.9%
-0.01%
2
USD Coin
USDC
 Fiat Backed
$74.0B
$13.3B
27.3%
-0.00%
3
Algorithmic
$4.9B
$0.1B
1.8%
-0.01%
4
Dai
DAI
 Crypto Backed
$4.6B
$0.2B
1.7%
+0.00%
5
PayPal USD
PYUSD
 Fiat Backed
$2.9B
$0.1B
1.1%
-0.01%
6
Fiat Backed
$0.3B
$0.1B
0.1%
-0.02%
7
Frax
FRAX
 Algorithmic
$0.2B
$0.0B
0.1%
-0.13%
8
Fiat Backed
$0.0B
$0.0B
0.0%
-0.02%
9
Fiat Backed
$0.0B
$0.0B
0.0%
+0.11%
10
Crypto Backed
$0.0B
$0.0B
0.0%
+0.27%
11
Pax Dollar
USDP
 Fiat Backed
$0.0B
$0.0B
0.0%
-0.02%
12
Fiat Backed
$0.0B
$0.0B
0.0%
-0.02%
14
Algorithmic
$0.0B
$0.0B
0.0%
+1.16%

Market Analysis

Market Concentration

The stablecoin market shows high concentration with the top 2 coins (USDT and USDC) controlling 95.2% of the total market.

Category Dominance

Fiat-backed stablecoins represent the largest segment, reflecting institutional preference for traditional currency backing and regulatory compliance.

Growth Drivers
  • GENIUS Act regulatory clarity
  • Institutional adoption
  • Cross-border payment demand
  • DeFi ecosystem growth
Market Outlook

Continued growth expected driven by regulatory acceptance and mainstream financial integration.