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
+$41.4M+$41,441,513
27 September 2026
$312.99B$312,994,283,271
28 September 2026
$313.04B$313,035,724,784

Move hash 756cf3a26e5bf47c6363daeec57ef149b912a99131b0af3363c98f4e52f466ea

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 +$41,441,513. 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+$40.5M−$2.4M+$3.4M$0+$41.4M
Chain−$140.2M$0+$181.6M+$54,687+$41.4M
Issuer−$53.2M+$94.6M$0$0+$41.4M

Token

+$40.5M named across 168 tokens

Largest increases

  1. BUIDL+$161.7M
  2. USDD+$32.3M
  3. USDS+$27.0M
  4. pUSD+$23.9M
  5. USD1+$20.2M

Largest decreases

  1. USDC−$111.6M
  2. PYUSD−$47.7M
  3. USDe−$46.4M
  4. USDG−$16.2M
  5. DAI−$13.2M

Unresolved −$2.4M

  • Source valuation unresolved (162 source assets)−$2.4M

Held +$3.4M

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

8 held transitions
Held portionWhyChange
Unnamed tokenClassification changed between fixings+$2.6M
Unnamed tokenClassification changed between fixings+$797K
Unnamed tokenClassification changed between fixings−$101K
Unnamed tokenClassification changed between fixings+$83K
Unnamed tokenClassification changed between fixings+$17K
Unnamed tokenClassification changed between fixings−$2K
Unnamed tokenClassification changed between fixings+$115
Unnamed tokenClassification changed between fixings+$20

Chain

−$140.2M named across 140 chains

Largest increases

  1. Solana+$164.2M
  2. Arbitrum+$35.8M
  3. Base+$29.9M
  4. Tron+$29.4M
  5. Polygon+$23.5M

Largest decreases

  1. Ethereum−$376.1M
  2. Hyperliquid L1−$56.4M
  3. Robinhood Chain−$19.0M
  4. X Layer−$10.7M
  5. Arc−$4.9M

Unresolved $0

No unresolved class.

Held +$181.6M

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

3 held transitions
Held portionWhyChange
Unnamed token on AptosChain row entered coverage+$161.7M
Unnamed token on AptosChain row entered coverage+$20.0M
Unnamed token on ZKsync EraChain row left coverage−$50K

Issuer

−$53.2M 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+$6.9M

Largest decreases

  1. Paxos Trust Company N.A.−$47.7M
  2. Tether International S.A. de C.V.−$12.0M
  3. FD121 BVI Limited−$206K
  4. Standard Custody Trust Company LLC−$166K
  5. HTMI Limited−$10K

Unresolved +$94.6M

  • Issuer unresolved (331 source assets)+$94.6M

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 $41.4M between the 27 September 2026 and 28 September 2026 fixings, from $312.99B to $313.04B.

Named Token movement is +$40.5M across 168 tokens; the largest are BUIDL (+$161.7M) and USDC (−$111.6M). −$2.4M is unresolved and +$3.4M is held, and is not attributed to any token.

Named Chain movement is −$140.2M across 140 chains; the largest are Ethereum (−$376.1M) and Solana (+$164.2M). +$181.6M is held, and is not attributed to any chain.

Named legal-issuer movement is −$53.2M across 6 legal issuers; the largest are Paxos Trust Company N.A. (−$47.7M) and Tether International S.A. de C.V. (−$12.0M). +$94.6M 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
756cf3a26e5bf47c6363daeec57ef149b912a99131b0af3363c98f4e52f466eaSHA-256 of the stable contract JSON of the Move without this field.
Stored artifact SHA-256
79f4f208992f447de4858f24a17ac8500fad91ee6c4d5bf9b94eda39c537820a
Method
stable-tape-structure-move-v1
Fixing convention
16:00 Europe/London, both dates

From fixing: 27 September 2026

Record hash
c189c7df353d132530b94f476bf75c180b05f4832a498d8e66fdeaa90e436f78
Core hash
43685c5e133f7dd7ccdcdc27545c60ba694456a8718762019cdb592327785ab5
Publication seal
eb84c679ac1c2d97e8eb8761421aff3327d5e2498641557e4281df9fc8fd9e93
Market Reading archive
e4db0ee2ae0e6e5c3fe772a9f18580cec2df394c3ce5567e6d1b4dbed9e25cb0

To fixing: 28 September 2026

Record hash
0a5dbe8248049c7448b91712069d5ac53264b3fd69bca4ed812c7409e6ea8c51
Core hash
5fa9b60a713e6cd0822c6f9e8eb8983d48a8dc859ad2471ab2f7aed5dbedd7d0
Publication seal
e94efb797b9a54a9b81b58dfccf7110381161ca2c1ee3e5d197d42bab59b7430

Prior Structure baseline

Baseline hash
95eb20c3d818802a773db60d271c2d044405beda6cd8e83198439ef79e9d3052
Method
stable-tape-current-structure-baseline-v1
Admitted at
2026-09-27T15:34:30.907Z
Admission deadline
2026-09-28T15:00:00.000ZThe later fixing instant. Admission at or after it fails closed.

Baseline timing custody

Timing receipt hash
2fb274cf5f880446cc8ad5d9c2a52984a9f0781e4cf5b00b70a1bcbfdee27b59
Authenticated read-back at
2026-09-27T15:34:33.000Z
Workflow
.github/workflows/structure-move-derived-publication.yml
Workflow run
36330020765, attempt 1
Baseline commit
6d720b0ace4bcf7cc352e987d05c99bfd36f947b

How to cite

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

Stable Tape, “The Move: 27-28 September 2026”, Structure Move for the 28 September 2026 fixing (16:00 Europe/London), Move hash 756cf3a26e5bf47c6363daeec57ef149b912a99131b0af3363c98f4e52f466ea. https://stabletape.com/move/2026-09-28

Short reference presentation and social
Stable Tape, The Move 2026-09-27 to 2026-09-28: USD stablecoin supply +$41.4M. https://stabletape.com/move/2026-09-28
Data note journalism and chart sources
Source: Stable Tape, The Move 2026-09-27 to 2026-09-28 (https://stabletape.com/move/2026-09-28). Structure Move method stable-tape-structure-move-v1; Move hash 756cf3a26e5bf47c6363daeec57ef149b912a99131b0af3363c98f4e52f466ea. Derived from the frozen Daily Tape records for both fixings; values are not revised.

Permanent address https://stabletape.com/move/2026-09-28