The stablecoin sector set a fresh all-time high in mid‑January 2026, with total market capitalization reaching $310.426 billion. This level sits $364 million above the prior record and follows a week that saw $2.873 billion flow into the space, including $662.84 million from newly minted Tether (USDT). The rise comes alongside reshuffled rankings as several mid-tier tokens gained ground.
Stablecoin Market Sets New Record in 2026
The latest data shows the market clearing the $310 billion threshold, registering $310.426 billion in total value and topping the previous ATH by $364 million. Over the seven‑day window, inflows reached $2.873 billion, with $662.84 million attributed to new USDT issuance; Tether now reports a market cap of $186.595 billion. These weekly flows helped push the aggregate figure to its new peak.
Top Stablecoins by Market Cap
The ranking at mid‑January reflects both the dominance of large issuers and gains from emerging players. Circle’s USDC added $1.741 billion in supply over the week and sits near a $76.649 billion market valuation, while Ethena’s USDe reclaimed the third spot with a $6.468 billion market cap.
- Tether (USDT) — $186.595 billion
- Circle (USDC) — $76.649 billion
- Ethena (USDe) — $6.468 billion
- Sky (USDS) — $6.207 billion
- Sky (DAI) — $4.687 billion
- PayPal (PYUSD) — $3.685 billion
- World Liberty Financial (USD1) — $3.509 billion
- Circle (USYC) — $1.503 billion
- Global Dollar (USDG) — $1.442 billion
- Ripple (RLUSD) — $1.385 billion
Notable Gainers and Losers
USDC and USDe were among the main inflow recipients this week: USDC added $1.741 billion in supply, while USDe recorded a gain that translated into a $162.21 million inflow and a market cap near $6.468 billion. By contrast, Sky’s USDS slid 6.8% over the period, shedding $452.57 million and standing at $6.207 billion.
Beyond the top ten, several mid‑tier coins posted pronounced moves that reshaped the broader rankings. Ondo’s USDY rose 12.13% to $752.35 million, United Stables’ U coin jumped 26.96% to $519.66 million, and USDD sits at $962.21 million, illustrating growing diversity in where supply and demand are concentrated.
Broader Implications for Crypto Markets
The update highlights that inflows during the week were concentrated in both the largest issuers and a widening group of mid‑cap stablecoins, broadening the sector’s base. The report notes reshuffled rankings and fresh inflows across many tokens, suggesting stablecoin supply increases are not limited to the usual heavyweight names.
Why this matters
For miners operating in Russia with between one and a thousand devices, the record in stablecoin supply mainly affects market liquidity and conversion options rather than mining operations directly. Higher stablecoin availability can make it easier to convert mined crypto into widely used dollar‑pegged tokens or to move proceeds across exchanges without immediate exposure to volatile spot prices.
What to do?
If you receive payouts in crypto or trade mined coins for stablecoins, keep a short checklist to reduce friction and costs. Monitor which stablecoins your preferred exchanges and payment rails support, prefer established issuers for large transfers, and confirm withdrawal and on‑ramp limits before moving funds.
- Track liquidity and spreads for the stablecoins you use to find the cheapest conversion path.
- Use reputable exchanges and check withdrawal fees and limits ahead of big transfers.
- Consider splitting holdings across a couple of major stablecoins to avoid single‑token congestion.
For context on recent weekly movements and prior trends, see the weekly roundup and a deeper look at USDC growth in 2025, which explain how supply shifts have unfolded over recent months.
