The dollar-pegged cryptocurrency market hit a new milestone this weekend, crossing $317 billion in total market capitalization as of April 4, 2026, according to data from DefiLlama. The sector recorded $1.242 billion in net inflows over the past seven days, signaling sustained capital accumulation.
USDS Outperforms Top Ten With 9.57% Weekly Gain
Sky's USDS emerged as the standout performer among the top ten stablecoins, posting a weekly increase of 9.57% and adding more than $779 million in inflows. Its market cap now stands at $8.924 billion, cementing its position as the third-largest stablecoin.
Tether (USDT) retains its dominant market share of 58.04% with a valuation of $184.076 billion, edging up 0.03% over the week. Tether recently announced plans to undergo a full financial audit, a move that could further bolster trust in the leading stablecoin issuer. Circle's USDC slipped 0.39% to $77.42 billion, experiencing the steepest decline among the top ten with over $304 million in outflows.
USDe and DAI Show Mixed Performance; Real Settlement Volume Tops $508B
Ethena's yield-bearing stablecoin USDe holds a market cap of $5.888 billion, down 0.26% week-over-week. Sky's DAI rounds out the top five at $4.691 billion, gaining 2.99% during the same period. Together, the top five stablecoins account for approximately 87.1% of the total $317.134 billion market.
According to Crystalintelligence, the stablecoin sector processed roughly $1.96 trillion in gross transfer volume last week, with an estimated $508 billion attributed to authentic settlement volume. This underscores the growing utility of stablecoins for real-world transactions and capital movement.
Bitcoin Consolidates Below $67K as Bearish Sentiment Persists
At 8 a.m. Eastern Time on April 4, Bitcoin traded at $67,109, with a market cap of $1.32 trillion. The largest cryptocurrency remains under pressure, consolidating below the $67K level with a bearish undertone intact. While expanding stablecoin liquidity is often interpreted as a precursor to fresh demand for risk assets, Bitcoin's current price action suggests the market may be awaiting a clearer catalyst.
The stablecoin market's steady expansion, driven by dominant incumbents and emerging winners like USDS, highlights the sector's resilience and evolving competitive dynamics. Going forward, the outcome of Tether's audit and any regulatory shifts could reshape the landscape for dollar-pegged assets in crypto.