Table of Contents
Total stablecoin supply fell $4.60B (−1.54%) in the week to 9 November 2026, to $294.80B, according to DefiLlama. 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).
- 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).
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, 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).
| 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% |
More context: the Stablecoin Payments and Cards Hub and the Stablecoin Regulation Hub. Earlier editions: Stablecoin Supply Snapshot archive.
