Stablecoins Market Rotation: USDT Dominance Persists as USDC Sees Outflows

In the past week, the stablecoins market shed roughly $1B as funds rotated among assets; USDT remains dominant with 58.42% share (~$184B), while USDC posted the largest outflow.

Rich by Coin

2026-03-28

Over the past week, the stablecoins market declined by roughly one billion dollars, yet the move reflects asset rotation rather than a broad exodus. Funds shifted among stablecoins, with USDT continuing to hold the field at the forefront of the market.

USDT remains the dominant player, with about $184 billion in market capitalization, accounting for 58.42% of the total stablecoin supply. Weekly outflows were modest, around $56 million, indicating relative stability as major issuers absorbed redemption pressure. In contrast, Circle’s USD Coin (USDC) recorded the largest net outflow, about $1.37 billion since the 21st, representing a weekly decline of 1.73%.

USDC’s market capitalization sits near $77.7 billion. Other top stablecoins mostly posted declines: SkyDollar (USDS) fell about 1.18%, while USDe and DAI decreased roughly 0.32% each. Yet there were exceptions: BlackRock’s BUIDL rose about 6%, and Circle’s USYC gained over 7%. GlobalDollar (USDG) also moved higher, and Bitcoin.com notes that this pattern reflects a rotation where funds move between stablecoins rather than leaving the sector entirely.