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Stablecoin Market Capitalization Surpasses $323.3 Billion as Weekly Inflows Reach $1.5 Billion
Over the past seven days, the stablecoin market reached a new record level of $323.343 billion, while net inflows totaled $1.542 billion. Tether posted modest growth of 0.04%, maintaining its market share at approximately 58.67%.
Key Takeaways:
- Tether added $68.2 million, with USDT accounting for 58.67% of the $323.3 billion stablecoin market.
- Sky’s USDS surged 11.5% to $8.79 billion, approaching the $10 billion milestone.
- Western Union’s USDPT skyrocketed by 597,568%, although its market capitalization remains only $1.5 million.
Tether Controls 58.67% of the Stablecoin Market
Tether’s USDT remains the dominant force in the stablecoin sector by a wide margin. This weekend, its market capitalization reached $189.7 billion after increasing by $68.2 million since May 9.
Circle’s USDC moved in the opposite direction last week, losing 1.22% of its market capitalization — more than $950 million.
USDC’s market capitalization currently stands at $77.068 billion, which is 1.98% lower than its level on April 16.
Sky’s USDS Is Approaching the $10 Billion Mark
One of the strongest performers of the week was Sky’s USDS. The third-largest stablecoin grew by 11.50%, attracting approximately $906 million in fresh capital.
USDS now holds a total market valuation of $8.791 billion and is rapidly approaching the $10 billion milestone.
Sky’s older stablecoin, DAI, ranks fourth with a market capitalization of $4.613 billion. Since May 9, DAI has lost slightly more than $46 million in market value, posting a modest decline.
World Liberty Financial’s USD1 also recorded positive momentum, rising 1.97% over the week. According to defillama.com, inflows of approximately $87 million pushed USD1’s market capitalization to $4.52 billion.
Other Stablecoins Also Posted Strong Growth
Among other notable performers:
— Ethena’s USDe gained 6.77%;
— PayPal’s PYUSD rose 1.32%;
— BlackRock’s BUIDL climbed 8.01%;
— Global Dollar’s USDG increased 9.63%.
Meanwhile, Circle’s USYC posted a slight decline of 0.30%.
The most dramatic weekly increase came from Western Union’s USDPT, which surged by an extraordinary 597,568%, according to Defillama stablecoin statistics.
Despite the explosive growth, the recently launched stablecoin still represents a very small share of the market, with a capitalization of only $1.5 million.
See also: "Spot XRP ETF Balances Are Changing: Here’s the Latest Situation!"
