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. A change is named only when both fixings measured it on the same basis. The remainder is shown as unresolved or held, and is not attributed.

Market change
−$899.5M−$899,457,299
26 September 2026
$313.89B$313,893,740,570
27 September 2026
$312.99B$312,994,283,271

Move hash 249bd21ab81b40372605491ce81b769307a9bf7541d815d9d2523e9368cda9a2

Daily Tape history →

The Move

Token
Chain
Issuer
Each bar starts at zero and steps through named change, then unresolved, then held, ending at the market change marker. Each scope reconciles to the same market change of −$899,457,299. Only the named portion is attributed. Unresolved classes and held transitions are not entities.
Reconciliation of the Move by scope, in US dollars
ScopeNamedUnresolvedHeldRoundingMarket change
Token−$1.17B+$1.9M+$272.4M+$1−$899.5M
Chain−$491.5M$0−$408.0M+$62,037−$899.5M
Issuer−$6.6M−$490.5M−$402.4M+$1−$899.5M

Token

−$1.17B named across 168 tokens

Largest increases

  1. USDS+$25.6M
  2. USDTB+$16.0M
  3. USDe+$13.2M
  4. USDG+$12.1M
  5. DAI+$6.9M

Largest decreases

  1. USDC−$1.25B
  2. USDT−$6.5M
  3. PYUSD−$2.2M
  4. pmUSD−$1.9M
  5. YLDS−$1.9M

Unresolved +$1.9M

  • Source valuation unresolved (159 source assets)+$1.9M

Held +$272.4M

Changes that could not be compared on the same basis. Visible for reconciliation, attributed to nothing.

11 held transitions
Held portionWhyChange
Unnamed tokenClassification changed between fixings+$677.2M
Unnamed tokenNot comparable between these fixings−$402.4M
Unnamed tokenClassification changed between fixings−$2.6M
Unnamed tokenClassification changed between fixings+$141K
Unnamed tokenClassification changed between fixings+$99K
Unnamed tokenClassification changed between fixings−$81K
Unnamed tokenClassification changed between fixings−$757
Unnamed tokenClassification changed between fixings−$361
Unnamed tokenClassification changed between fixings+$145
Unnamed tokenClassification changed between fixings−$115
Unnamed tokenClassification changed between fixings−$20

Chain

−$491.5M named across 140 chains

Largest increases

  1. BSC+$524.4M
  2. Ethereum+$137.1M
  3. Arbitrum+$132.1M
  4. Aptos+$20.6M
  5. Polygon+$20.0M

Largest decreases

  1. Solana−$1.14B
  2. Tron−$183.9M
  3. Base−$10.2M
  4. Arc−$7.0M
  5. Avalanche−$6.7M

Unresolved $0

No unresolved class.

Held −$408.0M

Changes that could not be compared on the same basis. Visible for reconciliation, attributed to nothing.

9 held transitions
Held portionWhyChange
Unnamed token on WavesNot comparable between these fixings−$395.9M
Unnamed token on EthereumNot comparable between these fixings−$6.3M
USDY on OsmosisChain row left coverage−$5.9M
USDY on TempoChain row entered coverage+$521K
Unnamed token on BSCNot comparable between these fixings−$210K
Unnamed token on KavaChain row left coverage−$89K
Unnamed token on FantomChain row left coverage−$86K
Unnamed token on BlastChain row left coverage−$63K
Unnamed token on ZKsync EraChain row entered coverage+$50K

Issuer

−$6.6M 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

  1. Ondo Global Markets BVI Limited+$2.3M
  2. HTMI Limited+$123K
  3. FD121 BVI Limited+$14K

Largest decreases

  1. Tether International S.A. de C.V.−$6.5M
  2. Paxos Trust Company N.A.−$2.3M
  3. Standard Custody Trust Company LLC−$203K

Unresolved −$490.5M

  • Issuer unresolved (330 source assets)−$490.5M

Held −$402.4M

Changes that could not be compared on the same basis. Visible for reconciliation, attributed to nothing.

1 held transition
Held portionWhyChange
Unnamed tokenNot comparable between these fixings−$402.4M

What changed

USD stablecoin supply fell by $899.5M between the 26 September 2026 and 27 September 2026 fixings, from $313.89B to $312.99B.

Named Token movement is −$1.17B across 168 tokens; the largest are USDC (−$1.25B) and USDS (+$25.6M). +$1.9M is unresolved and +$272.4M is held, and is not attributed to any token.

Named Chain movement is −$491.5M across 140 chains; the largest are Solana (−$1.14B) and BSC (+$524.4M). −$408.0M is held, and is not attributed to any chain.

Named legal-issuer movement is −$6.6M across 6 legal issuers; the largest are Tether International S.A. de C.V. (−$6.5M) and Ondo Global Markets BVI Limited (+$2.3M). −$490.5M is issuer-unresolved and −$402.4M is held, 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
249bd21ab81b40372605491ce81b769307a9bf7541d815d9d2523e9368cda9a2SHA-256 of the stable contract JSON of the Move without this field.
Stored artifact SHA-256
cc0993b15b072b37f52159628d89f5934ffb9f51e13c82e145568fa78e1a9427
Method
stable-tape-structure-move-v1
Fixing convention
16:00 Europe/London, both dates

From fixing: 26 September 2026

Record hash
1bc29c5c39b5032dfaa81477483ae75cb7885c7933e0cd7d5a0e8d5dca126a7b
Core hash
4346f0dc60761631dad3c17edd81b403e122091e3f1f1b7537da57dc4a77b873
Publication seal
51f428e7863dafe90adb6589d964a506601e2f0e7cab1fdfbab64d53db44000a
Market Reading archive
103bced84fd0a8fea8c1ad4f0f30a85879328057a02439a3b6ec9b646b5e2fcf

To fixing: 27 September 2026

Record hash
c189c7df353d132530b94f476bf75c180b05f4832a498d8e66fdeaa90e436f78
Core hash
43685c5e133f7dd7ccdcdc27545c60ba694456a8718762019cdb592327785ab5
Publication seal
eb84c679ac1c2d97e8eb8761421aff3327d5e2498641557e4281df9fc8fd9e93

Prior Structure baseline

Baseline hash
e8b839c643e0433cf96078ea352ab990949afc88591c3f64db0b103f2ea3b0eb
Method
stable-tape-current-structure-baseline-v1
Admitted at
2026-09-26T15:34:08.486Z
Admission deadline
2026-09-27T15:00:00.000ZThe later fixing instant. Admission at or after it fails closed.

Baseline timing custody

Timing receipt hash
7571d8793cdef7dd539c1ec4c038214b77bf591eaf5a8d98d99d4be1aef41465
Authenticated read-back at
2026-09-26T15:34:12.000Z
Workflow
.github/workflows/structure-move-derived-publication.yml
Workflow run
36252360303, attempt 1
Baseline commit
782cd4893274937d481cb5192fe011e928675fe9

How to cite

Cite the dated address. It names one authenticated Move and does not change.

Stable Tape, “The Move: 26-27 September 2026”, Structure Move for the 27 September 2026 fixing (16:00 Europe/London), Move hash 249bd21ab81b40372605491ce81b769307a9bf7541d815d9d2523e9368cda9a2. https://stabletape.com/move/2026-09-27

Short reference presentation and social
Stable Tape, The Move 2026-09-26 to 2026-09-27: USD stablecoin supply −$899.5M. https://stabletape.com/move/2026-09-27
Data note journalism and chart sources
Source: Stable Tape, The Move 2026-09-26 to 2026-09-27 (https://stabletape.com/move/2026-09-27). Structure Move method stable-tape-structure-move-v1; Move hash 249bd21ab81b40372605491ce81b769307a9bf7541d815d9d2523e9368cda9a2. Derived from the frozen Daily Tape records for both fixings; values are not revised.

Permanent address https://stabletape.com/move/2026-09-27