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Stablecoin Market Adds $2 Billion in 7 Days as USDT Market Cap Holds Near $190 Billion
After the stablecoin market slightly surpassed the $320 billion mark last week, it attracted more than $2 billion in fresh investment over the past seven days. Defillama data shows that the total market capitalization of the stablecoin market currently stands at $322.74 billion.
Key Takeaways
- On May 10, Tether’s USDT market capitalization reached $189.63 billion, allowing the company to retain 58.76% of the stablecoin market.
- Circle’s USDC added $1.61 billion over seven days, signaling renewed demand for dollar-backed cryptocurrency.
- USDG’s market capitalization jumped 11.89% to $2.658 billion, once again drawing attention to emerging stablecoins.
Stablecoin Market Begins Growing Again
As of this weekend, Tether (USDT) remains the undisputed leader of the sector, holding a massive market capitalization of $189.63 billion; over the past week, the asset posted a slight increase of 0.05%. USDT’s share of the stablecoin market, which totals $322.74 billion, now stands at 58.76%, giving Tether a significant advantage over the rest of the sector and further strengthening its role as the dominant liquidity instrument in the crypto economy.
Stablecoin statistics from Defillama.com show that USDC from Circle Internet Group posted slightly stronger momentum, rising 2.08% over the past seven days and firmly holding second place with a market capitalization of $78.96 billion. From May 3 to May 10, 2026, approximately $1.61 billion in new funds flowed into USDC, giving the stablecoin one of the strongest weekly performances among the sector’s largest issuers.
Image source: defillama.com, May 10, 2026.
Sky’s USDS ranked third with a market capitalization of $7.88 billion, although the token clearly had a difficult week, losing 6.37%. Meanwhile, Sky’s DAI held fourth place with a capitalization of $4.66 billion, posting a modest 0.63% gain over the same period. Rounding out the top five was USD1 from World Liberty Financial, with a market capitalization of $4.43 billion, which appeared to remain sidelined this week as the stablecoin declined by 2.12%.
After several weeks of continuous outflows, Ethena’s yield-bearing stablecoin USDe finally reversed course, posting a weekly gain of 1.6%, which placed it sixth with a market capitalization of $3.96 billion this weekend. It was followed by PayPal’s PYUSD with a capitalization of $3.41 billion, although this stablecoin showed signs of renewed activity, rising 1.11% over the past seven days. Meanwhile, BlackRock’s BUIDL gained 5.81% this week, bringing the market capitalization of the tokenized Treasury fund to $2.986 billion.
At the same time, USYC from Circle Internet Group, another product backed by U.S. Treasury bonds and belonging to the same category as BUIDL, added 2.68% during the period. Circle Internet Group’s USYC is now valued at $2.981 billion, further strengthening the presence of tokenized Treasury-backed products among the largest dollar-pegged assets in the sector.
Finally, in 10th place, USDG recorded a much stronger weekly increase of 11.89%, reaching $2.658 billion. Among the top ten stablecoins, USDG showed the strongest growth over the past seven days. The latest capital inflows since May 3 indicate that capital continues returning to dollar-pegged crypto assets, even as the performance of the sector’s largest stablecoins remains sharply uneven.
