Seven days after the sector reached a record $310.426 billion on Jan. 17, 2026, the stablecoin market contracted by $3.327 billion. This pullback did not signal a collapse but a short-term rebalancing across issuers and product types. Tether (USDT) remains the largest single holder of market value, while Circle’s USDC saw the largest weekly outflow among major coins.
Stablecoin Market Overview
The market’s recent peak was followed by a modest reduction in total supply, driven mainly by redemption flows in a few large issuers. In practical terms, the sector trimmed about $3.327 billion in the week after the record, illustrating that stable capital can rotate quickly between forms of cash-like exposure. For a broader recap of how the sector moved in prior weeks, see this weekly summary, which covers the market’s trajectory into late 2025.
Major Stablecoins Performance
USDT and USDC
Tether (USDT) holds roughly $186.59 billion in market cap and accounts for 60.76% of the stablecoin economy’s net value, remaining the market’s primary liquidity spine. By contrast, Circle’s USDC declined 5.44% on the week to about $72.90 billion, a move that equated to a $4.19 billion outflow and did the bulk of the sector’s net contraction.
Synthetic and Yield-Linked Dollars
Some yield- and synthetics-based dollars gained ground: Ethena’s USDe increased 1.51% to $6.57 billion, while other protocol-linked tokens showed mixed performance. These smaller upward moves partially offset larger redemptions, producing a mixed picture rather than a uniform trend.
Mid-Tier and Smaller Stablecoins
The mid-tier segment produced notable winners during the week, with several issuers posting strong percentage gains on smaller bases. Ondo’s USDY led those gains, rising 46.54% to roughly $1.25 billion, and other mid- and lower-tier tokens recorded modest increases that supported overall market depth. For more context on USDC’s recent dynamics relative to USDT, see the article on USDC growth.
Market Trends and Insights
Putting the weekly numbers together shows capital rotating between cash-like safety, yield wrappers, and issuer ecosystems rather than a wholesale withdrawal from stablecoins. The sector remains near record supply levels despite the one-week contraction, suggesting a reallocation of holdings rather than systemic fragility. Traders and institutions appear to be shifting exposure within the stablecoin space, which keeps overall liquidity concentrated at the top while mid-tier tokens capture episodic inflows.
Почему это важно
Если вы майнер в России с 1–1000 устройств, эти изменения помогают понять, как движется ликвидность в криптоэкосистеме. Снижение общего объёма не означает проблем с возможностью вывода средств, но показывает, что крупные эмитенты могут испытывать краткосрочные оттоки.
Для повседневной работы это значит, что деньги в экосистеме стабильных монет могут быстрее переключаться между инструментами безопасности и доходности, что влияет на доступность ликвидности и условия обмена на локальных площадках.
Что делать?
Действия направлены на снижение операционных рисков и сохранение гибкости портфеля в условиях краткосрочных перебалансировок рынка.
- Держите резерв в нескольких крупных стейбкоинах, чтобы обеспечить возможность быстрого обмена или выплат при необходимости.
- Отслеживайте притоки/оттоки по основным эмитентам — особенно USDC и USDT — и учитывайте риск временных ограничений на вывод.
- Оценивайте доходные варианты (yield‑tokens) отдельно и не переводите туда всю ликвидность без понимания условий погашения и доступа к средствам.
- Периодически проверяйте новости и еженедельные обзоры рынка, чтобы видеть, куда перемещается капитал и как это влияет на спреды и комиссионные.
FAQ
Why did stablecoins fall after the Jan. 17 peak? Redemptions in larger coins, especially USDC, outweighed gains elsewhere and produced the net weekly decline.
Which stablecoin holds the largest market cap now? Tether (USDT) leads with roughly $186.59 billion and about 60.76% market share.
Which stablecoin gained the most this week? Ondo’s USDY rose approximately 46.54% in seven days to about $1.25 billion.
Is the stablecoin market still near record levels? Yes — despite the weekly dip, supply remained close to the recent record peak of $310.426 billion.
