Stablecoin Supply Today
Track circulating USD stablecoin supply, daily supply movement, and its share of U.S. M2.
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What “stablecoin supply” means
Stablecoin supply is the reported circulating supply of stablecoins. Stable Tape focuses on USD-pegged stablecoin supply for DDD, then compares it with U.S. M2 to show the scale of onchain dollars relative to broad money.
- Supply is not transaction volume.
- Supply is not user count.
- Supply is not complete adoption — see Stablecoin Adoption Metrics for the wider stack.
- Daily Tape is snapshot-to-snapshot movement, not transaction-level mint/burn tracking.
- Non-USD stablecoins are context, not part of the DDD numerator.
Structure layers beneath stablecoin supply
These are structure layers, not usage or adoption rankings — they show how reported supply is distributed, not how actively it is used.
Supply changes daily
Daily Tape records how USD stablecoin supply expanded and contracted across the latest frozen measurement window.
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Read the full Daily Tape → · June 2026 report →
Supply Momentum summarizes whether the latest Daily Tape window shows net expansion, contraction, or mostly flat supply. It reads snapshot-to-snapshot movement from frozen Daily Tape records, not transaction-level mint/burn tracking.
Sources and methodology
- Source: DeFiLlama stablecoin supply data.
- Denominator: FRED M2SL for U.S. M2.
- DDD numerator: USD-pegged stablecoin supply.
- Dated Daily Tape records are the preferred citable surface for a specific day’s reading.
See the full methodology for the formula and caveats, or the developers page for API access. New to the metric? Start with the stablecoin M2 ratio explainer. For how actively supply is moving, see the Stablecoin Velocity research beta.