USDC Supply Dips While USDT Edges Higher

USDC supply contracted across the four data points while Tether supply inched upward.

Circulation Figures in the First Snapshot

The initial set listed USD Coin at 74.31 billion tokens. Tether registered 184.00 billion. Sky Dollar came in at 6.68 billion. Dai stood at 4.85 billion. Smaller entries like SpiceUSD and Sable Coin each hovered near 18 million and 97 thousand respectively. Sperax USD showed the largest peg deviation at that time yet carried only half a million tokens.

Second Snapshot Updates

The next reading showed USD Coin rising slightly to 74.38 billion. Tether increased to 184.16 billion. Sky Dollar dipped to 6.63 billion. Dai moved to 4.86 billion. SpiceUSD and Sable Coin remained virtually unchanged at 18.05 million and 97 thousand. The worst peg again belonged to a low volume USDS variant.

Third and Fourth Readings

The third set recorded USD Coin at 73.30 billion. Tether held at 184.16 billion. Sky Dollar returned near 6.67 billion. Dai at 4.85 billion. Sperax USD peg deviation widened further while its supply stayed minimal. The fourth snapshot had USD Coin at 73.33 billion. Tether at 184.20 billion. Sky Dollar at 6.68 billion. Dai at 4.85 billion. Minor stables continued flat.

Net Supply Shifts

Over the sequence USDC lost about one billion in circulation. USDT gained roughly two hundred million. Dai showed almost no net change. Sky Dollar stayed within a narrow band near 6.67 billion. These moves occur against a backdrop where total stable supply affects available liquidity for wallet funded play. The pattern across the four reads highlights contraction in one major name and modest expansion in another.

Peg Performance Remains Tight

Prices stayed near parity throughout. USDC printed values between 0.9999 and 1.00. USDT ranged from 0.9992 to 0.9994. Deviations stayed small for the larger tokens even as supply totals shifted.

Supply totals provide one window into available deposit coins on chain.

Observing Liquidity Signals

A player tracking deposit options sees the USDC decline as a reduction in that coin's on chain presence. The Tether increase adds a small increment to its already large base. Smaller stables register little movement and hold limited relevance for volume. The data set spans four points without any single outlier dominating the trend. Next readings will show whether the USDC contraction continues or reverses.