The latest figures from defillama.com show the fiat-pegged token economy pulled back over the past week, shedding $1.04 billion since March 21. Seven of the top ten stablecoins posted net outflows during that stretch. USDT continues to dominate the sector with a market capitalization of $184.068 billion, even after a modest seven-day dip of -0.03%, or just over $56 million in outflows. USDT currently accounts for 58.42% of the stablecoin sector’s total valuation, which stands at $315.072 billion after the $1.04 billion loss.
Circle’s USDC follows with a market cap of $77.723 billion, though it logged a steeper weekly decline of -1.73%. That places USDC’s outflows at roughly $1.372 billion since March 21. In third position, Sky dollar (USDS) carries a market cap of $8.146 billion, down 1.18% over the past week, while Ethena’s USDe sits fourth at $5.904 billion after a modest 0.32% weekly decline. Rounding out the top five, Sky’s DAI stands at a $4.555 billion market cap as of Saturday, posting a 0.32% weekly decline in line with USDe’s performance.
World Liberty Financial’s USD1 stablecoin shed -0.54% this past week and now stands with a market cap of $4.404 billion. PYUSD ranks seventh with a market capitalization of $3.87 billion, recording a sharper weekly drop of 4.80%. Positions eight through ten moved against the broader trend, each posting net inflows over the same stretch.
Blackrock’s BUIDL takes the eighth spot with a $2.699 billion market cap and a 6.15% weekly gain. Just behind it, Circle’s USYC ranks ninth at $2.609 billion, leading this cohort with a 7.26% increase over the past week. Rounding out the top ten, Global Dollar’s USDG holds a $1.692 billion market cap, posting a 1.23% weekly gain.
The $1.04 billion in outflows coincides with a broader pullback across the crypto economy this week, wiping out a large share of early March’s gains. Still, the week’s stablecoin data points to selective contraction rather than systemic stress, with capital rotating instead of exiting entirely.
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