The stablecoin market cap sits at $315B.
March is turning out to be the strongest contender of Q1 2026 in growing stablecoin supply with several days more to go. In early February, the market briefly dipped to $300B (according to DefiLlama) and has since then recovered and increased $15B in supply minted.
Biggest gainers from the top stablecoins recently include Circle’s USDC and USYC stablecoins with net new mints $5.6B and $684M in the last 30 days, as well as Sky’s USDS stablecoin adding a considerable $1.5B onchain. Stablecoin capital is detaching from pure trading.
Broader turmoil in the macro with geopolitical events continues to bring uncertainty. Commodities are facing strong fluctuations for developed and emerging markets. Gold Futures are down -7.71% and Crude Oil Futures are up over 50% over the last 30 days respectively.
