Stable Tape Daily Tape
Daily Tape: 2026-07-23
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.
Official cutoff 12:00 UTC. Frozen record for 2026-07-23. This record does not change. Selected by fixed public rules, not by an editor or AI — a market observation, not a trading signal.
The next largest daily gain was $715M.
Why this Signal? Archive extreme — It was the largest same-direction daily move across the Daily Tape's -record archive.
It was the highest-priority eligible Signal under the published rules.
How the Signal is selected →How this Signal was selected
Stored selection rules v5Winning family: Archive extreme. This was the highest-priority eligible Signal for the record.
- 1Record validityOnly a complete canonical Daily Tape record can produce a market Signal.
- 2DDD benchmark or milestoneA material DDD move, rounded 1-in-N milestone, or genuinely denominator-driven M2 update.
- 3Archive extremeThe largest same-direction daily move in a sufficiently deep canonical archive.Selected for this record
- 4Sequence reversalA material move reverses or interrupts the immediately preceding run in the other direction.
- 5Weekly extremeThe largest daily move in the latest complete seven-record window.
- 6Large daily movementA net daily supply move clears the published large-movement floor.
- 7Multi-day streakSupply keeps moving in the same direction across contiguous canonical days.
- 8Weekly supply trendThe latest seven canonical records show a material directional endpoint trend.
- 9Quiet market with weekly contextA quiet day is placed in the context of the latest seven-record trend.
- 10Issuer or chain trendA clean endpoint-confirmed issuer or chain move explains the weekly change.
- 11Offsetting movementLarge opposing supply changes leave the net daily move close to flat.
- 12Broad issuer movementMovement is broad across major issuers rather than concentrated in one name.
- 13Quiet readingSupply remains inside the published flat threshold after stronger families are tested.
- 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 edged up to 1.35%, equivalent to 1 in 74 U.S. dollars.
- Supply Supply expanded $1.17B.
- Issuer Circle led expansion.
- Chain Solana concentrated the move.
- 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.
Signal wording uses rounded figures; the tables above show the exact frozen values.
Selection rules v5 · Signal templates v5-t6 · changes apply only to future records
Net movement as a share of all up-and-down movement across the latest 7 canonical records. This window does not measure persistence or establish a trend.
Benchmark
Source basis
Movement totals
Top moves
| Top expansion | USDC · Circle (+$992.7M) |
| Top contraction | USDT · Tether (-$91.7M) |
Drivers
| Issuer driver | Circle (+$992.7M) |
| Chain driver | Solana (+$1.09B) |
| Currency driver | US Dollar (+$1.17B) |
Snapshot basis
| Official cutoff | 12:00 UTC |
| Snapshot captured | 23 July 2026, 10:49:44 UTC |
| Record frozen | 23 July 2026, 10:49:45 UTC |
| Schema version | 8 |
| Current snapshot | 2026-07-23T10:49:44.425Z |
| Previous snapshot | 2026-07-22T10:48:52.687Z |
| Provenance | owned-snapshots |
| Record hash (SHA-256) | 5309044a6b5d243c… |
Citation
Stable Tape Daily Record, 2026-07-23: DDD was 1 in 74 dollars, based on $310.54B 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/2026-07-23
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 its stated official 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.