Key Takeaways
- Tether’s USDT hit $189.63B on May 10, keeping 58.76% control of the stablecoin market.
- Circle’s USDC added $1.61B in 7 days, signaling renewed demand for dollar-backed crypto.
- USDG jumped 11.89% to $2.658B, putting newer stablecoins back in the spotlight.
Stablecoin Market Starts Swelling Again
As of this weekend, tether ( USDT) remains the unquestioned heavyweight of the sector, holding a towering $189.63 billion market valuation; the asset posted a mild 0.05% increase over the past week. USDT’s share of the $322.74 billion stablecoin market now stands at 58.76%, giving tether a commanding lead over the rest of the sector and further cementing its role as the dominant liquidity vehicle across the crypto economy.
Defillama.com stablecoin stats show that Circle Internet Group’s USDC showed a bit more energy, posting a 2.08% gain over the last seven days as it comfortably held onto the No. 2 position with a $78.96 billion market capitalization. Roughly $1.61 billion in fresh inflows poured into USDC between May 3 and May 10, 2026, giving the stablecoin one of the strongest weekly performances among the sector’s largest issuers.
Sky’s USDS claimed the bronze position with a $7.88 billion market cap, though the token clearly endured a bruising week after slipping 6.37%. Meanwhile, Sky’s DAI held steady in fourth place at $4.66 billion, managing a modest 0.63% increase over the same stretch. Rounding out the top five was World Liberty Financial’s USD1 at $4.43 billion, which appeared content to idle this week as the stablecoin drifted 2.12% lower.
After weeks of persistent outflows, the yield-bearing stablecoin USDe managed by Ethena finally reversed course with a 1.6% weekly gain, placing it sixth overall with a $3.96 billion market cap this weekend. Paypal’s PYUSD followed behind at $3.41 billion, though the stablecoin showed signs of renewed activity after climbing 1.11% over the last seven days. Meanwhile, Blackrock’s BUIDL posted a 5.81% increase this week, lifting the tokenized Treasury fund to $2.986 billion.
At the same time, Circle Internet Group’s USYC, another U.S. Treasury-backed product in the same category as BUIDL, added 2.68% during the period. Circle Internet Group’s USYC now carries a $2.981 billion valuation, further strengthening the presence of tokenized Treasury-backed products among the sector’s largest dollar-pegged assets.
Lastly, in the No. 10 position, USDG recorded a much larger 11.89% weekly increase to reach $2.658 billion. Among the top ten stablecoins, USDG delivered the strongest gain over the past seven days. The latest inflows since May 3 suggest capital continues to rotate back into dollar-pegged crypto assets, even as performance among the sector’s largest stablecoins remains sharply divided.