Stable Tape Daily Tape

Daily Tape: 2026-07-09

Canonical 12:00 UTC cutoff. This permalink is rendered from the frozen Daily Tape record for the date shown — its Stablecoin Signal, evidence line, and figures — and is a shareable, citable record.

Stablecoin Signal Weekly move
Stablecoins saw their biggest daily drop of the week.

Frozen at 12:00 UTC on 2026-07-09. This record does not change. Selected by fixed public rules, not by an editor or AI — a market observation, not a trading signal.

Supply fell $556M, the largest one-day decrease across the 7-day Daily Tape window.

Why this Signal? Weekly extreme — It was the largest daily move across the seven-record Daily Tape window.

It was the highest-priority eligible Signal under the published rules.

How the Signal is selected →

How this Signal was selected

Stored selection rules v3

Winning family: Weekly extreme. This was the highest-priority eligible Signal for the record.

  1. 1Record validityOnly a complete canonical Daily Tape record can produce a market Signal.
  2. 2DDD benchmark or milestoneA material DDD move, rounded 1-in-N milestone, or genuinely denominator-driven M2 update.
  3. 3Archive extremeThe largest same-direction daily move in a sufficiently deep canonical archive.
  4. 4Sequence reversalA material move reverses or interrupts the immediately preceding run in the other direction.
  5. 5Weekly extremeThe largest daily move in the latest complete seven-record window.Selected for this record
  6. 6Large daily movementA net daily supply move clears the published large-movement floor.
  7. 7Multi-day streakSupply keeps moving in the same direction across contiguous canonical days.
  8. 8Weekly supply trendThe seven-record supply level continues a material directional trend.
  9. 9Quiet market with weekly contextA quiet day is placed in the context of the complete seven-record trend.
  10. 10Issuer or chain trendA clean endpoint-confirmed issuer or chain move explains the weekly change.
  11. 11Offsetting movementLarge opposing supply changes leave the net daily move close to flat.
  12. 12Broad issuer movementMovement is broad across major issuers rather than concentrated in one name.
  13. 13Quiet readingSupply remains inside the published flat threshold after stronger families are tested.
  14. 14Net supply movementThe plain directional daily movement when no more specific family is eligible.

Stable Tape tests each canonical record against these published families in order. Eligibility includes materiality, repetition, attribution and data-quality guards. View exact thresholds and wording rules →

  • DDD DDD held at 1.35%, equivalent to 1 in 74 U.S. dollars.
  • Supply Supply contracted $556M.
  • Issuer One name dominated the move here, but the pattern looks like a data-tracking artifact rather than a real change, so it isn't named.
  • Chain One name dominated the move here, but the pattern looks like a data-tracking artifact rather than a real change, so it isn't named.
  • Currency One name dominated the move here, but the pattern looks like a data-tracking artifact rather than a real change, so it isn't named.
DDD benchmark
1.35%
1 in 74 U.S. dollars
Net supply movement
-$556.1M
Supply contracted over the frozen Daily Tape window.
Expanded
$1.76B
Observed supply expansion
Contracted
$2.31B
Observed supply contraction

Signal wording uses rounded figures; the tables above show the exact frozen values.

Selection rules v3 · changes apply only to future records

Benchmark

DDD: 1.35% · equivalent to 1 in 74 U.S. dollars
Share of U.S. M2
1.35%
M2 as of: 2026-05-01

Source basis

Stablecoin supply
$310.20B
Source: DeFiLlama
M2 used
$23.05T
Source: FRED M2SL

Movement totals

Net movement
-$556.1M
Expanded
$1.76B
Contracted
$2.31B

Top moves

Top expansionUSDT · Tether (+$260.4M)
Top contractionUSDX · USDX Money (-$677.8M)

Drivers

Issuer driverUSDX Money (-$677.8M)
Chain driverTron (+$1.23B)
Currency driverUS Dollar (-$556.7M)

Snapshot basis

Current snapshot2026-07-09T13:05:47.382Z
Previous snapshot2026-07-08T12:40:24.064Z
Provenanceowned-snapshots
Record hash (SHA-256)068373dba126bbaf…

Citation

Stable Tape Daily Record, 2026-07-09: DDD was 1 in 74 dollars, based on $310.20B USD stablecoin supply and $23.05T U.S. M2 as of 2026-05-01. Source: DeFiLlama (stablecoin supply) + FRED M2SL (U.S. M2). https://stabletape.com/tape/2026-07-09

Methodology

DDD = USD stablecoin supply ÷ U.S. M2. Numerator: total USD-denominated stablecoin supply (source: DeFiLlama). Denominator: U.S. M2 money stock, seasonally adjusted (source: FRED M2SL), typically lagged 4–6 weeks from the record date.

Each record is frozen at the 12:00 UTC cutoff and never recomputed from live data. This permalink always serves the frozen record values and its own dated share card and social preview. The live /tape page collects until the next cutoff.