Stablecoin Market Cap Analysis

Real-time market capitalization tracking and distribution analysis

Total Market Cap
$280.5B
Live Data
24h Trading Volume
$69.5B
24.8% of MCap
Market Leader
USDT
66.4% Share
Top 2 Dominance
94.3%
USDT + USDC

Market Share Distribution

1
Tether
USDT
$186.3B
66.4%
2
USD Coin
USDC
$78.4B
27.9%
3
Ethena USDe
USDe
$6.5B
2.3%
4
Dai
DAI
$4.4B
1.6%
5
PayPal USD
PYUSD
$3.9B
1.4%

Market Cap by Category

Fiat-Backed
$269.4B
96.0% of market
USDT, USDC, PYUSD
Crypto-Backed
$4.4B
1.6% of market
DAI, LUSD
Algorithmic
$6.8B
2.4% of market
USDe, FRAX

Complete Market Cap Rankings

Rank Stablecoin Category Market Cap 24h Volume Market Share 24h Change
1
Tether
USDT
 Fiat Backed
$186.3B
$60.0B
66.4%
-0.00%
2
USD Coin
USDC
 Fiat Backed
$78.4B
$8.7B
27.9%
+0.00%
3
Algorithmic
$6.5B
$0.1B
2.3%
-0.02%
4
Dai
DAI
 Crypto Backed
$4.4B
$0.1B
1.6%
-0.06%
5
PayPal USD
PYUSD
 Fiat Backed
$3.9B
$0.0B
1.4%
-0.02%
6
Fiat Backed
$0.6B
$0.6B
0.2%
+0.02%
7
Frax
FRAX
 Algorithmic
$0.3B
$0.0B
0.1%
-0.04%
8
Fiat Backed
$0.1B
$0.0B
0.0%
+0.04%
9
Pax Dollar
USDP
 Fiat Backed
$0.1B
$0.0B
0.0%
-0.03%
10
Fiat Backed
$0.0B
$0.0B
0.0%
-0.02%
11
Crypto Backed
$0.0B
$0.0B
0.0%
+0.32%
12
Fiat Backed
$0.0B
$0.0B
0.0%
+0.02%
14
Algorithmic
$0.0B
$0.0B
0.0%
-4.17%

Market Analysis

Market Concentration

The stablecoin market shows high concentration with the top 2 coins (USDT and USDC) controlling 94.3% 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.