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# Stablecoin Supply Snapshot: $294.80B, −1.54% in Week to 9 Nov 2026
- URL: https://stablecoininsider.org/stablecoin-supply-snapshot-2026-11-09/
- Published: 2026-11-09T17:32:42.000Z
- Updated: 2026-11-09T17:38:15.000Z
- Description: Total stablecoin supply was $294.80B on 9 November 2026 (−1.54% week on week). Top 10, movers and chain split from DefiLlama.
- Author: Milos Djukanovic
- Tags: News, Stablecoin Supply Snapshot, Stablecoins

Total stablecoin supply fell $4.60B (−1.54%) in the week to 9 November 2026, to $294.80B, according to [DefiLlama](https://defillama.com/stablecoins). Tether (USDT) remained the largest stablecoin at $176.69B, 59.9% of the total, and Ethereum held the most stablecoins of any blockchain at $135.12B.

## Key numbers this week

- Total supply: **$294.80B** on 9 November 2026, versus $299.40B seven days earlier ([DefiLlama](https://defillama.com/stablecoins)).
- Weekly change: **−$4.60B** (−1.54%).
- Largest weekly gain: Ethena USDe (USDe), +$448M.
- Largest weekly drop: Tether (USDT), −$2.58B.
- Top two chains: Ethereum $135.12B and Tron $94.18B ([DefiLlama chains](https://defillama.com/stablecoins/chains)).

![Line chart of total stablecoin supply over the 90 days to 9 November 2026, ending at $294.80B](https://storage.ghost.io/c/73/6a/736af0e4-2274-4543-a329-2952b2b52abc/content/images/2026/11/total-stablecoin-supply-last-90-days-chart-2026-11-09.webp)

Graphic: Stablecoin Insider. Source: [DefiLlama](https://defillama.com/stablecoins), read 9 November 2026.

## Top 10 stablecoins by supply

| #  | Stablecoin                         | Supply   | 7-day change     | Share of total |
| -- | ---------------------------------- | -------- | ---------------- | -------------- |
| 1  | Tether (USDT)                      | $176.69B | −$2.58B (−1.44%) | 59.9%          |
| 2  | USD Coin (USDC)                    | $70.32B  | −$1.31B (−1.83%) | 23.9%          |
| 3  | Sky Dollar (USDS)                  | $5.41B   | −$977M (−15.29%) | 1.8%           |
| 4  | Ethena USDe (USDe)                 | $4.98B   | +$448M (+9.90%)  | 1.7%           |
| 5  | Dai (DAI)                          | $4.66B   | −$46M (−0.98%)   | 1.6%           |
| 6  | World Liberty Financial USD (USD1) | $3.36B   | −$525M (−13.52%) | 1.1%           |
| 7  | PayPal USD (PYUSD)                 | $2.72B   | −$101M (−3.58%)  | 0.9%           |
| 8  | Ripple USD (RLUSD)                 | $2.69B   | +$271M (+11.21%) | 0.9%           |
| 9  | Global Dollar (USDG)               | $2.69B   | −$182M (−6.35%)  | 0.9%           |
| 10 | BlackRock USD (BUIDL)              | $1.76B   | −$249M (−12.38%) | 0.6%           |

*Supply in US dollars from* [*DefiLlama*](https://defillama.com/stablecoins)*, pulled 2026-11-09 17:32 UTC. Non-dollar stablecoins are converted at DefiLlama's listed price. Share is of the $294.80B total.*

## Biggest movers

Largest seven-day changes in circulating supply among stablecoins with at least $100M a week earlier.

| Stablecoin                         | 7-day change | Change % | Supply now |
| ---------------------------------- | ------------ | -------- | ---------- |
| Ethena USDe (USDe)                 | +$448M       | +9.90%   | $4.98B     |
| Ripple USD (RLUSD)                 | +$271M       | +11.21%  | $2.69B     |
| Polymarket USD (pUSD)              | +$29M        | +5.92%   | $520M      |
| M by M0 (M)                        | +$28M        | +13.02%  | $243M      |
| Open USD (OUSD)                    | +$25M        | +2.86%   | $918M      |
| Tether (USDT)                      | −$2.58B      | −1.44%   | $176.69B   |
| USD Coin (USDC)                    | −$1.31B      | −1.83%   | $70.32B    |
| Sky Dollar (USDS)                  | −$977M       | −15.29%  | $5.41B     |
| World Liberty Financial USD (USD1) | −$525M       | −13.52%  | $3.36B     |
| BlackRock USD (BUIDL)              | −$249M       | −12.38%  | $1.76B     |

## Supply by blockchain

Ethereum and Tron together held 78.5% of stablecoin supply tracked by chain on 9 November 2026 ([DefiLlama chains](https://defillama.com/stablecoins/chains)).

![Bar chart of stablecoin supply by blockchain on 9 November 2026, led by Ethereum and Tron](https://storage.ghost.io/c/73/6a/736af0e4-2274-4543-a329-2952b2b52abc/content/images/2026/11/stablecoin-supply-by-blockchain-chart-2026-11-09.webp)

Graphic: Stablecoin Insider. Source: [DefiLlama](https://defillama.com/stablecoins/chains), read 9 November 2026.

| Blockchain     | Stablecoin supply | Share |
| -------------- | ----------------- | ----- |
| Ethereum       | $135.12B          | 46.3% |
| Tron           | $94.18B           | 32.2% |
| Solana         | $14.80B           | 5.1%  |
| BSC            | $13.73B           | 4.7%  |
| Hyperliquid L1 | $6.50B            | 2.2%  |
| Base           | $5.23B            | 1.8%  |
| Arbitrum       | $3.66B            | 1.3%  |
| Polygon        | $2.90B            | 1.0%  |

🔎

**How we built this snapshot:** all figures come from DefiLlama's public stablecoin data (total, per-stablecoin and per-chain endpoints), pulled 2026-11-09 17:32 UTC. Weekly change compares the 9 November 2026 daily total with the total seven days earlier. Chain totals can differ slightly from the overall total because they are calculated separately. See [our methodology](https://stablecoininsider.org/our-methodology/).

More context: the [Stablecoin Payments and Cards Hub](https://stablecoininsider.org/stablecoin-payments-hub/) and the [Stablecoin Regulation Hub](https://stablecoininsider.org/stablecoin-regulation-hub/). Earlier editions: [Stablecoin Supply Snapshot archive](https://stablecoininsider.org/tag/stablecoin-supply-snapshot/).