Stablecoin Market Cap Analysis

Real-time market capitalization tracking and distribution analysis

Total Market Cap
$274.7B
Live Data
24h Trading Volume
$105.0B
38.2% of MCap
Market Leader
USDT
68.0% Share
Top 2 Dominance
94.3%
USDT + USDC

Market Share Distribution

1
Tether
USDT
$186.7B
68.0%
2
USD Coin
USDC
$72.3B
26.3%
3
Ethena USDe
USDe
$6.6B
2.4%
4
Dai
DAI
$4.4B
1.6%
5
PayPal USD
PYUSD
$3.7B
1.4%

Market Cap by Category

Fiat-Backed
$263.4B
95.9% of market
USDT, USDC, PYUSD
Crypto-Backed
$4.4B
1.6% of market
DAI, LUSD
Algorithmic
$6.9B
2.5% of market
USDe, FRAX

Complete Market Cap Rankings

Rank Stablecoin Category Market Cap 24h Volume Market Share 24h Change
1
Tether
USDT
 Fiat Backed
$186.7B
$94.2B
68.0%
+0.05%
2
USD Coin
USDC
 Fiat Backed
$72.3B
$7.0B
26.3%
+0.01%
3
Algorithmic
$6.6B
$0.2B
2.4%
+0.02%
4
Dai
DAI
 Crypto Backed
$4.4B
$0.1B
1.6%
+0.07%
5
PayPal USD
PYUSD
 Fiat Backed
$3.7B
$0.1B
1.4%
-0.15%
6
Fiat Backed
$0.5B
$3.3B
0.2%
+0.06%
7
Frax
FRAX
 Algorithmic
$0.3B
$0.0B
0.1%
-0.00%
8
Fiat Backed
$0.1B
$0.0B
0.0%
-0.13%
9
Fiat Backed
$0.0B
$0.0B
0.0%
-0.02%
10
Pax Dollar
USDP
 Fiat Backed
$0.0B
$0.0B
0.0%
+0.02%
11
Crypto Backed
$0.0B
$0.0B
0.0%
-0.02%
12
Fiat Backed
$0.0B
$0.0B
0.0%
+0.27%
14
Algorithmic
$0.0B
$0.0B
0.0%
-3.17%

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.