Stable Tape · The Move
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The change in USD stablecoin supply between two consecutive Stable Tape fixings, taken at 16:00 Europe/London, broken down by Token, Chain and Issuer. The frozen Chain ranking has a subsequent qualification, explained below.
- Market change
- +$533.0M+$532,972,998
- 20 September 2026
- $311.40B$311,402,058,467
- 21 September 2026
- $311.94B$311,935,031,465
Move hash 6edaff413795352f413584904ce89687e7f3c90b71323c51832fd9f7063c4e48
Chain attribution qualified
The frozen 21 September Move is preserved unchanged. Subsequent review found that source asset 214 (USDX / USDX Money USDX) changed valuation basis from peg FX fallback to market price between the two fixings. Token scope held that movement as non-comparable, but the qualification was not propagated to its Chain contributions in the frozen v1 Move. Its Chain rankings contain non-comparable valuation movement and must not be interpreted as like-for-like economic change.
The Move
| Scope | Named | Unresolved | Held | Rounding | Market change |
|---|---|---|---|---|---|
| Token | +$1.19B | +$3.3M | −$663.2M | $0 | +$533.0M |
| Chain | Chain attribution qualified; frozen figures remain in the JSON artifact. | ||||
| Issuer | +$124.3M | +$408.7M | $0 | $0 | +$533.0M |
Token
+$1.19B named across 172 tokens
Largest increases
- USDC+$925.9M
- USDT+$153.7M
- USDe+$31.7M
- pUSD+$28.0M
- USDS+$27.0M
Unresolved +$3.3M
- Source valuation unresolved (160 source assets)+$3.3M
Held −$663.2M
Changes that could not be compared on the same basis. Visible for reconciliation, attributed to nothing.
6 held transitions
| Held portion | Why | Change |
|---|---|---|
| Source asset 214 | Classification changed between fixings | −$677.4M |
| Source asset 268 | Classification changed between fixings | +$14.2M |
| Source asset 216 | Classification changed between fixings | +$82K |
| Source asset 109 | Classification changed between fixings | −$6K |
| Source asset 132 | Classification changed between fixings | −$5K |
| Source asset 295 | Classification changed between fixings | −$3K |
Chain: Chain attribution qualified
The frozen Chain figures remain in the authenticated JSON artifact. Its ranking is withheld from this presentation because it contains non-comparable valuation movement.
Issuer
+$124.3M named across 6 legal issuers
Named only where governed legal-issuer authority exists. A token without it stays issuer-unresolved; no issuer is inferred from a name.
Largest increases
Largest decreases
Unresolved +$408.7M
- Issuer unresolved (331 source assets)+$408.7M
Held $0
Changes that could not be compared on the same basis. Visible for reconciliation, attributed to nothing.
Nothing held.
What changed
USD stablecoin supply rose by $533.0M between the 20 September 2026 and 21 September 2026 fixings, from $311.40B to $311.94B.
Named Token movement is +$1.19B across 172 tokens; the largest are USDC (+$925.9M) and USDT (+$153.7M). +$3.3M is unresolved and −$663.2M is held, and is not attributed to any token.
The frozen 21 September Move is preserved unchanged. Subsequent review found that source asset 214 (USDX / USDX Money USDX) changed valuation basis from peg FX fallback to market price between the two fixings. Token scope held that movement as non-comparable, but the qualification was not propagated to its Chain contributions in the frozen v1 Move. Its Chain rankings contain non-comparable valuation movement and must not be interpreted as like-for-like economic change.
Named legal-issuer movement is +$124.3M across 6 legal issuers; the largest are Tether International S.A. de C.V. (+$153.7M) and Paxos Trust Company N.A. (−$21.9M). +$408.7M is issuer-unresolved, and is not attributed to any issuer.
Evidence
This page is served only after every binding below is verified against the committed files, and after the Move is replayed from the two frozen fixings and matches the stored artifact byte for byte. If any check fails, the page is withdrawn rather than shown in part.
The Move
- Move hash
6edaff413795352f413584904ce89687e7f3c90b71323c51832fd9f7063c4e48SHA-256 of the stable contract JSON of the Move without this field.- Stored artifact SHA-256
5ef8b75b2252bbbccc273cc31ad190c139418147d75fd19b87cfd648d7e05117- Method
- stable-tape-structure-move-v1
- Fixing convention
- 16:00 Europe/London, both dates
From fixing: 20 September 2026
- Record hash
64233d3c6954635e247da30548736f3b3b008d3abf359fc13fb1434e52d6af64- Core hash
cafb2d183d408ab25c4cf463214461ebf10c317255926869ed4fe443f982d30c- Publication seal
aa80e1a37e067b8db18dff86092039cb36b81635072e34c84092741aab324911- Market Reading archive
6c79575a7121d1d754c3beef0347f67ade0ccc19cc1c4864eaf119cff612a315
To fixing: 21 September 2026
- Record hash
6db5677293d92ce1338f21b1917c0c993ea74c7a5157df0274bd098a10769dea- Core hash
8f1ad928e8cf7db70f8709e13846efd08befad492668b6e6ea7b7675bac987a5- Publication seal
e6e2df1da80f1d11eef160dbee3cf24ddd4c7d863deb5cfdfdd118d86f5ccfb4
Prior Structure baseline
- Baseline hash
f77bf6e4c940b9b5ea8f2dc42f38811cc8436c577483e011c1653b9ee61180b5- Method
- stable-tape-current-structure-baseline-v1
- Admitted at
- 2026-09-20T15:32:48.396Z
- Admission deadline
- 2026-09-21T15:00:00.000ZThe later fixing instant. Admission at or after it fails closed.
Baseline timing custody
- Timing receipt hash
e04049c9d99aa9f8295171a43742a42cd044cecd10e12c1e7fe4ba751e773ef0- Authenticated read-back at
- 2026-09-20T15:32:51.000Z
- Workflow
- .github/workflows/structure-move-derived-publication.yml
- Workflow run
- 35519891195, attempt 1
- Baseline commit
758799ac215e60487baaf77baa99863919ed5912
How to cite
Cite the dated address. It names one authenticated Move and does not change.
Stable Tape, “The Move: 20-21 September 2026”, Structure Move for the 21 September 2026 fixing (16:00 Europe/London), Move hash 6edaff413795352f413584904ce89687e7f3c90b71323c51832fd9f7063c4e48. https://stabletape.com/move/2026-09-21
- Short reference presentation and social
Stable Tape, The Move 2026-09-20 to 2026-09-21: USD stablecoin supply +$533.0M. https://stabletape.com/move/2026-09-21
- Data note journalism and chart sources
Source: Stable Tape, The Move 2026-09-20 to 2026-09-21 (https://stabletape.com/move/2026-09-21). Structure Move method stable-tape-structure-move-v1; Move hash 6edaff413795352f413584904ce89687e7f3c90b71323c51832fd9f7063c4e48. Derived from the frozen Daily Tape records for both fixings; values are not revised.
Permanent address https://stabletape.com/move/2026-09-21
Where this Move sits
Daily Tape Frozen fact
Structure Composition
The Move Authenticated change
Signal Scarce governed event
No public Signal is linked to this Move.