DefiLlama data shows the stablecoin market has recorded $12.413 billion in outflows since May 17, 2026, over a 62-day period. Of that amount, $1.555 billion left the market since July 11, marking one of the larger contractions seen in more than four years. As of July 18, Tether’s USDT remained the largest stablecoin with a market capitalization of $184.055 billion, while Circle’s USDC stood at $73.376 billion. Over the past week, USDT slipped 0.06% and USDC edged down 0.04%.
Among the top 10 stablecoins, Sky’s USDS posted the steepest weekly decline, falling 12.30% to a market capitalization of $6.66 billion. World Liberty Financial’s USD1 fell 4.59%, and Sky’s DAI declined 0.43%. On the gaining side, Global Dollar’s USDG rose 9.08% to $3.164 billion, the strongest weekly increase among the top 10. PayPal’s PYUSD climbed 1.60% to $2.877 billion, while Circle’s USYC and BlackRock’s BUIDL dropped 3.64% and 8.68%, respectively.
DefiLlama data shows the stablecoin market has seen $12.413 billion in outflows over the 62 days since May 17, 2026. Since July 11 alone, the market has posted $1.555 billion in outflows, making it one of the larger contractions in more than four years.
Market cap moves across major stablecoins
As of July 18, Tether’s USDT had a market capitalization of $184.055 billion, while Circle’s USDC stood at $73.376 billion. Over the past week, USDT declined 0.06% and USDC fell 0.04%.
Sky’s USDS had a market capitalization of $6.66 billion and dropped 12.30% over the past week, the largest decline among the top 10 stablecoins. World Liberty Financial’s USD1 fell 4.59%, while Sky’s DAI slipped 0.43%.
Global Dollar’s USDG rose 9.08% over the past week to reach a market capitalization of $3.164 billion, the biggest gain among the top 10 stablecoins. PayPal’s PYUSD rose 1.60% to $2.877 billion. Circle’s USYC and BlackRock’s BUIDL fell 3.64% and 8.68%, respectively.
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