Stablecoin market tops $320B as Tether’s USDT share slips 2.5%
Stablecoin market reached $320.007 billion on April 16 as Tether’s USDT share fell 2.5 percentage points to 57.96% ($185.463 billion), DefiLlama data shows.
The stablecoin market reached $320.007 billion on April 16 after $2.54 billion of inflows over the prior seven days, data compiled by DefiLlama shows.
Tether’s USDT held a 57.96% share of the market, with a market capitalization of $185.463 billion, down 2.5 percentage points from 60.46%. USDT posted a 0.75% gain for the week, adding roughly $1.373 billion in recorded inflows.
Circle’s USDC remained the second-largest stablecoin with a market capitalization of $78.621 billion. USDC rose 0.55% for the week and drew about $431 million in inflows.
Sky Dollar’s USDS ranked third at $8.605 billion, down 0.99% over seven days. Ethena’s USDe stood at $5.827 billion, off 0.05%, and MakerDAO’s DAI was $4.581 billion, down 1.72%—the largest weekly decline among the top five.
The five largest stablecoins together held $283.097 billion, or about 88.47% of the sector’s total market value. Other issuers that have recorded notable shifts in 2026 include World Liberty Financial’s USD1, PayPal’s PYUSD, BlackRock’s BUIDL, Circle’s USYC and Ondo’s USDY.
Activity outside the top ten increased during 2026, with a broader set of projects seeing inflows and rising on-chain use. DefiLlama noted inflows have been positive for multiple consecutive weeks and that demand is present across both centralized and decentralized platforms.
DefiLlama added that future demand for stablecoins will depend on market conditions, regulatory clarity and how issuers respond.
Stablecoins are cryptocurrencies designed to maintain a stable value by pegging to fiat currencies, most commonly the U.S. dollar. They are used for trading, lending, payments and as a short-term store of value within crypto markets.
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