Stablecoin Market Cap Analysis

Real-time market capitalization tracking and distribution analysis

Total Market Cap
$276.4B
Live Data
24h Trading Volume
$45.0B
16.3% of MCap
Market Leader
USDT
66.6% Share
Top 2 Dominance
94.5%
USDT + USDC

Market Share Distribution

1
Tether
USDT
$183.9B
66.6%
2
USD Coin
USDC
$77.2B
27.9%
3
Ethena USDe
USDe
$5.9B
2.2%
4
Dai
DAI
$4.3B
1.6%
5
PayPal USD
PYUSD
$4.1B
1.5%

Market Cap by Category

Fiat-Backed
$265.8B
96.2% of market
USDT, USDC, PYUSD
Crypto-Backed
$4.3B
1.6% of market
DAI, LUSD
Algorithmic
$6.2B
2.3% of market
USDe, FRAX

Complete Market Cap Rankings

Rank Stablecoin Category Market Cap 24h Volume Market Share 24h Change
1
Tether
USDT
 Fiat Backed
$183.9B
$40.6B
66.6%
-0.01%
2
USD Coin
USDC
 Fiat Backed
$77.2B
$4.2B
27.9%
-0.00%
3
Algorithmic
$5.9B
$0.1B
2.2%
+0.05%
4
Dai
DAI
 Crypto Backed
$4.3B
$0.0B
1.6%
+0.04%
5
PayPal USD
PYUSD
 Fiat Backed
$4.1B
$0.0B
1.5%
-0.00%
6
Fiat Backed
$0.4B
$0.1B
0.1%
-0.04%
7
Frax
FRAX
 Algorithmic
$0.3B
$0.0B
0.1%
-0.01%
8
Fiat Backed
$0.0B
$0.0B
0.0%
-0.86%
9
Pax Dollar
USDP
 Fiat Backed
$0.0B
$0.0B
0.0%
-0.05%
10
Fiat Backed
$0.0B
$0.0B
0.0%
+1.71%
11
Crypto Backed
$0.0B
$0.0B
0.0%
-0.30%
12
Fiat Backed
$0.0B
$0.0B
0.0%
+0.30%
14
Algorithmic
$0.0B
$0.0B
0.0%
-2.03%

Market Analysis

Market Concentration

The stablecoin market shows high concentration with the top 2 coins (USDT and USDC) controlling 94.5% 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.