Stable Briefing, 5 October 2026

USD stablecoin supply rose $406m between 4 and 5 October, to $313.37bn.

That is 1.3425% of US M2, the broad measure of US dollars in the economy: roughly $1 of stablecoins for every $74 of US M2.

We couldn’t make a reliable Signal assessment for 5 October because the evidence on individual stablecoins wasn’t strong enough. That is not a finding that no Signal applied. Stable Tape did not publish a day-over-day breakdown by stablecoin, chain or issuer with this record, so it can’t show what drove the change.

This ratio is the Onchain Dollar Share (ODS). The comparison uses US M2 of $23,342,800,000,000, as of 1 August 2026 (source: FRED M2SL). Current levels by stablecoin, chain and issuer were published for this fixing. Any Structure Move, the day-over-day comparison, is shown at stabletape.com/tape/2026-10-05. Source: Stable Tape’s Daily Tape record for 5 October 2026 (Governed fixing 16:00 Europe/London).

Record: https://stabletape.com/tape/2026-10-05
Briefing: https://stabletape.com/briefing/2026-10-05