Statistics · 2026 · Crypto
Stablecoin Statistics (2026)
Stablecoins hold $292.7B of value as of October 2, 2026, about 10.1% of the $2.90T crypto market, according to CoinGecko. Tether (USDT) alone accounts for $184.0B, and with USD Coin (USDC) it makes up 84.1% of the 50 largest stablecoins. Most are fiat-backed dollar tokens, and the 2025 GENIUS Act sets a 100% reserve rule for U.S. issuers.
Key takeaways
- Stablecoins have a combined market value of $292.7B, or 10.1% of total crypto market value, per CoinGecko.
- Tether’s USDT ($184.0B) and Circle’s USDC ($73.9B) make up 84.1% of the 50 largest stablecoins.
- Stablecoins traded $105.5B in the last 24 hours, equal to 36.1% of their market value.
- Fiat-backed coins account for 95.1% of the category, while algorithmic coins hold just 0.5%.
- Tether reported that its reserves exceeded its liabilities by $4.11 billion on June 30, 2026.
- The GENIUS Act, signed July 18, 2025, requires 100% reserve backing and monthly public reserve disclosures.
How big is the stablecoin market?
CoinGecko values the stablecoin category at $292.7B as of October 2, 2026, which is 10.1% of the $2.90T total crypto market. The Federal Reserve counted $317 billion on April 6, 2026, using a different data provider. The two figures differ in both method and date (April 6 versus October 2, 2026), so they do not show a decline.
1. Stablecoin market value: $292.7B
CoinGecko’s stablecoin category totals $292.7B as of October 2, 2026 (WealthyBud data · 50 listed stablecoins · CoinGecko · October 2, 2026). The 50 coins CoinGecko lists for the category add up to $306.6B, 4.7% above its category total, so shares of the top 50 use the 50-coin sum as the base, while backing-type shares and turnover use the category total.
2. Stablecoins are 10.1% of all crypto value
Against CoinGecko’s global crypto market value of $2.90T, stablecoins represent 10.1%, roughly one dollar in every ten (WealthyBud data · global market value · CoinGecko · October 2, 2026). Over the last 24 hours the category’s value moved +0.35%.
3. The Federal Reserve counted $317 billion in April 2026
A Fed staff note reports that stablecoin market capitalization reached $317 billion as of April 6, 2026, up more than 50% since early 2025, with growth flattening in the fourth quarter of 2025 and first quarter of 2026, per the Federal Reserve FEDS Note. The note uses DeFiLlama data, so its total and CoinGecko’s do not compare one-for-one.
Which stablecoins are the largest?
Tether’s USDT is the largest stablecoin at $184.0B, followed by Circle’s USDC at $73.9B. USDS is third at $10.0B. Only 14 of the 50 largest stablecoins exceed $1 billion in market value, and the 50th-largest holds just $75.7M. Together, USDT and USDC hold 84.1% of the list.
4. USDT: $184.0B, 60.0% of the top 50
Tether ranks #3 among all cryptocurrencies by market cap and holds 60.0% of the 50 largest stablecoins (WealthyBud data · 50 largest stablecoins · CoinGecko · October 2, 2026).
5. USDC: $73.9B, 24.1% of the top 50
USD Coin is the second-largest stablecoin and ranks #6 among all cryptocurrencies (WealthyBud data · 50 largest stablecoins · CoinGecko · October 2, 2026).
6. Tether reports $184.6 billion in circulation and over 60% share
Tether’s own Q2 2026 attestation announcement says about $184.6 billion of USDT was issued at the end of the quarter, and that USDT holds over 60% of the total stablecoin market, per Tether’s July 31, 2026 release. That is consistent with the 60.0% computed above.
7. 14 of the 50 largest stablecoins top $1 billion
Beyond the leaders, the long tail is thin: the 50th-largest stablecoin, Lista USD, has a market cap of $75.7M (WealthyBud data · 50 largest stablecoins · CoinGecko · October 2, 2026).
8. 35 stablecoins sit in the top 250 cryptocurrencies
Those 35 coins hold 10.3% of the top 250’s combined market value (WealthyBud data · top 250 coins · CoinGecko · October 2, 2026).
| Stablecoin | Market cap | Share of top 50 | 24h volume | Price |
|---|---|---|---|---|
| Tether (USDT) | $184.0B | 60.0% | $77.5B | $0.9999 |
| USDC | $73.9B | 24.1% | $24.0B | $0.9999 |
| USDS | $10.0B | 3.2% | $336.5M | $0.9997 |
| Ethena USDe (USDE) | $4.9B | 1.6% | $34.0M | $0.9997 |
| Dai | $4.6B | 1.5% | $433.0M | $0.9999 |
| USD1 | $4.4B | 1.4% | $1.1B | $0.9994 |
| Global Dollar (USDG) | $3.2B | 1.0% | $932.6M | $1.0000 |
| PayPal USD (PYUSD) | $2.9B | 0.9% | $195.0M | $0.9998 |
| Ripple USD (RLUSD) | $2.5B | 0.8% | $291.1M | $1.0000 |
| Falcon USD (USDF) | $1.6B | 0.5% | $441,252 | $0.9959 |
How concentrated is the stablecoin market?
The market is highly concentrated. USDT and USDC together hold 84.1% of the 50 largest stablecoins, and the top 10 hold 95.2%. Prices stay tight: every top-10 coin trades within 0.41 cents of $1.00 as of October 2, 2026. The widest gap belongs to a thinly traded coin, so the largest two trade even closer to the peg.
9. Two coins hold 84.1% of the market
USDT plus USDC equal $258.0B of the $306.6B held by the 50 largest stablecoins (WealthyBud data · 50 largest stablecoins · CoinGecko · October 2, 2026).
10. The top 10 hold 95.2%
The other eight coins in the top 10, from USDS down to Falcon USD, add 11.1 percentage points (WealthyBud data · 50 largest stablecoins · CoinGecko · October 2, 2026).
11. Largest peg gap in the top 10: 0.41 cents
Falcon USD (USDF) trades at $0.9959, the widest gap from $1.00 among the ten largest. USDT trades at $0.9999, a gap of 0.014 cents. Falcon USD is thinly traded, with $441,252 in 24-hour volume, so its gap is a weak signal. These are single-moment prices, not a record of past depegs (WealthyBud data · 10 largest stablecoins · CoinGecko · October 2, 2026).
Track the top cryptocurrencies by market cap
How much do stablecoins trade each day?
Stablecoins traded $105.5B over the last 24 hours as of October 2, 2026, equal to 36.1% of their market value. USDT alone traded $77.5B. USDC traded $24.0B. Daily turnover that high shows how often stablecoins change hands, though CoinGecko’s volume figures include trades between stablecoins.
12. 24-hour stablecoin trading volume: $105.5B
CoinGecko reports $105.5B in 24-hour volume for the stablecoin category, a daily turnover of 36.1% of market value (WealthyBud data · stablecoin category · CoinGecko · October 2, 2026).
13. USDT turns over 42.1% of its supply daily; USDC 32.4%
USDT traded $77.5B against a $184.0B market cap, and USDC traded $24.0B against $73.9B (WealthyBud data · USDT and USDC · CoinGecko · October 2, 2026).
14. Stablecoins make up 54.5% of top-250 trading volume
Among the top 250 cryptocurrencies, the 35 stablecoins account for 54.5% of 24-hour volume but only 10.3% of market value (WealthyBud data · top 250 coins · CoinGecko · October 2, 2026). Volume is CoinGecko’s reported figure and includes trades between stablecoins.
What backs stablecoins?
Most stablecoins are backed by mostly dollar-denominated reserves, such as cash and short-term Treasuries, though mixes differ by issuer. CoinGecko tags $278.4B of the market as fiat-backed, 95.1% of the category. Crypto-backed and algorithmic designs are much smaller, at $4.6B and $1.6B.
15. Fiat-backed stablecoins: $278.4B, 95.1% of the category
CoinGecko’s fiat-backed tag includes USDT, USDC and USDS, its top three. Categories overlap, so a coin can sit in more than one and the groups below do not sum to the total (WealthyBud data · stablecoin category · CoinGecko · October 2, 2026).
16. Tether’s reserves exceeded its liabilities by $4.11 billion
Tether’s attestation, prepared by BDO, covers assets backing USDT as of June 30, 2026. Tether says reserves exceeded liabilities by about $4.11 billion and that most reserves sit in U.S. government-backed instruments and short-term liquidity facilities, per Tether’s Q2 2026 release.
17. Fed: USDT holds about 1.04x reserves, with 0.74x in higher-quality assets
According to attested disclosures cited in the Federal Reserve note, USDT maintains about 1.04x in reserves per coin, with about 0.74x in Treasuries, Treasury-backed repurchase agreements and bank deposits, while USDC holds full 1.0x backing with higher-quality reserves (Federal Reserve).
18. Circle says USDC is backed 100% by cash and cash equivalents
Circle states that USDC is backed 100% by highly liquid cash and cash-equivalent assets and is redeemable 1:1 for U.S. dollars (page data as of September 24, 2026), with most of the reserve held in the SEC-registered Circle Reserve Fund (USDXX), per Circle’s transparency page.
19. Algorithmic stablecoins are only 0.5% of the category
Coins that hold their peg through code instead of full reserves total $1.6B. Treasury-backed and yield-bearing coins are each a little larger, at $2.3B and $2.9B (WealthyBud data · stablecoin category · CoinGecko · October 2, 2026).
- Fiat-backed stablecoins hold $278.4B (95.1% of the category), led by USDT and USDC.
- Crypto-backed stablecoins hold $4.6B (1.6%), with DAI the largest.
- Yield-bearing stablecoins hold $2.9B (1.0%) and are designed to pay holders a yield.
- U.S. Treasury-backed stablecoins hold $2.3B (0.8%).
- Algorithmic stablecoins hold $1.6B (0.5%) and rely on code rather than full reserves to hold the peg.
How are stablecoins regulated in the U.S.?
The GENIUS Act, signed into law on July 18, 2025, created the first federal regulatory system for stablecoins. It requires issuers to hold 100% reserves in liquid assets such as U.S. dollars or short-term Treasuries and to publish their reserve composition every month.
20. The GENIUS Act became law on July 18, 2025
The White House fact sheet says the act creates the first-ever federal regulatory system for stablecoins, requires 100% reserve backing with liquid assets like U.S. dollars or short-term Treasuries, and requires issuers to make monthly public disclosures of reserve composition, per the White House fact sheet.
21. Treasury proposed issuance rules on August 18, 2026
The Department of the Treasury published a proposed rule to implement section 3 of the GENIUS Act, covering the prohibitions and limits on payment stablecoin issuance, offer and sale in the United States, per the Federal Register. A proposal is not final, so the details can still change.
What this means for crypto users
For traders, stablecoins are the base currency of the market. They are 54.5% of top-250 trading volume, so their liquidity matters to anyone who trades.
For holders, the issuer matters more than the ticker. Two coins can both trade at $1.00 while keeping different reserves, as the Fed note shows for USDT and USDC. Read the latest attestation before you hold a large balance.
For U.S. readers, the GENIUS Act raises the floor on reserves and disclosure, but Treasury is still writing rules. Check whether an issuer is licensed once the rules take effect. See how stablecoins sit within the wider crypto market and look at DAI for a crypto-backed example.
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