The stablecoin sector has moved above the $315 billion mark this week. According to data from Defillama, the total market capitalization of stablecoins now stands at $315.944 billion, up roughly $2.983 billion over the past seven days. Among the ten largest fiat-pegged tokens by market cap, Circle’s Treasury-fund stablecoin USYC rose 13.9% on the week, making it the strongest performer in the top tier.
Top names still dominate the sector
The market remains heavily concentrated in a small group of issuers. The top 10 stablecoins together account for about $296.914 billion, or 93.97% of the entire market. USDT continues to lead by a wide margin with a market cap of $183.998 billion, although its 7-day growth was just 0.03%. On its own, Tether now represents 58.24% of the sector.
USDC gained 2.40% over the week to reach $79.247 billion, putting it close to the $80 billion threshold. In third place, USDS climbed 6.8% to $8.051 billion, while its monthly growth reached 22.24%, highlighting stronger recent momentum.
Performance diverges across major stablecoins
Beyond the leaders, performance was mixed. Ethena’s USDe slipped 0.46% to $5.923 billion, while World Liberty Financial’s USD1 fell 0.18% to $4.599 billion. DAI added 0.85% to $4.538 billion. At the same time, Paypal’s PYUSD declined 1.78% to $4.106 billion, Blackrock’s BUIDL edged down 0.14% to $2.2 billion, and USDG advanced 4.15% to $1.663 billion.
A broader look at the market shows how concentrated the sector has become. Defillama tracks 351 stablecoins, yet the 301 tokens outside the top 10 account for only a little over $19 billion in combined value. The latest move above $315 billion underscores the growing role of dollar-pegged assets across crypto trading, payments, and decentralized finance, while also showing that capital continues to cluster around a small number of established products.