Stablecoin Market Cap Analysis

Real-time market capitalization tracking and distribution analysis

Total Market Cap
$275.0B
Live Data
24h Trading Volume
$136.4B
49.6% of MCap
Market Leader
USDT
68.0% Share
Top 2 Dominance
95.5%
USDT + USDC

Market Share Distribution

1
Tether
USDT
$187.0B
68.0%
2
USD Coin
USDC
$75.5B
27.5%
3
Ethena USDe
USDe
$4.5B
1.6%
4
Dai
DAI
$4.3B
1.6%
5
PayPal USD
PYUSD
$2.9B
1.0%

Market Cap by Category

Fiat-Backed
$265.9B
96.7% of market
USDT, USDC, PYUSD
Crypto-Backed
$4.3B
1.6% of market
DAI, LUSD
Algorithmic
$4.8B
1.7% of market
USDe, FRAX

Complete Market Cap Rankings

Rank Stablecoin Category Market Cap 24h Volume Market Share 24h Change
1
Tether
USDT
 Fiat Backed
$187.0B
$109.1B
68.0%
+0.03%
2
USD Coin
USDC
 Fiat Backed
$75.5B
$26.1B
27.5%
-0.00%
3
Algorithmic
$4.5B
$0.2B
1.6%
+0.03%
4
Dai
DAI
 Crypto Backed
$4.3B
$0.4B
1.6%
+0.00%
5
PayPal USD
PYUSD
 Fiat Backed
$2.9B
$0.4B
1.0%
+0.01%
6
Fiat Backed
$0.3B
$0.2B
0.1%
-0.01%
7
Frax
FRAX
 Algorithmic
$0.3B
$0.0B
0.1%
-0.36%
8
Fiat Backed
$0.0B
$0.0B
0.0%
+0.04%
9
Fiat Backed
$0.0B
$0.0B
0.0%
+0.47%
10
Pax Dollar
USDP
 Fiat Backed
$0.0B
$0.0B
0.0%
-0.02%
11
Crypto Backed
$0.0B
$0.0B
0.0%
+0.21%
12
Fiat Backed
$0.0B
$0.0B
0.0%
+0.05%
14
Algorithmic
$0.0B
$0.0B
0.0%
-1.29%

Market Analysis

Market Concentration

The stablecoin market shows high concentration with the top 2 coins (USDT and USDC) controlling 95.5% 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.