Dollar-Pegged Crypto Market Crosses $317B Threshold With $1.24B in Weekly Inflows – Bitcoin News

Key Takeaways:

• Sky’s USDS led the top ten gainers with a 9.57% weekly rise, adding over $779 million in inflows.
• Tether holds 58.04% market dominance at $184 billion, with a full financial audit now planned.
• The $317 billion stablecoin market processed $508 billion in authentic settlement volume last week.

Stablecoin Market Logs Another Week of Inflows

The dollar-pegged crypto market is pushing to new levels this weekend, crossing the $317 billion threshold based on data compiled by defillama.com. Tether ( USDT) leads the sector with a 58.04% share, supported by its $184.076 billion market valuation. USDT recorded a modest weekly increase of 0.03%.

This has remained true for the leading stablecoin firm Tether, which recently announced plans to undergo a full financial audit. Week over week, USDT remains consolidated, with minor inflows and outflows. In second place, Circle’s USDC commands a market cap of $77.42 billion, though it has posted a 0.39% decline over the past week.

Sky’s USDS ranks third this week, posting a notable gain of around 9.57% and outpacing the top ten cohort. USDS holds a market cap of $8.924 billion and added more than $779 million over the past week. The fourth-largest stablecoin, Ethena’s yield-bearing USDe, holds a market cap of $5.888 billion and recorded a slight seven-day decline of 0.26%.

Finally, Sky’s DAI rounds out the top five with a market cap of $4.691 billion, showing a healthy weekly growth of 2.99%. While USDe posted a modest weekly decline, the steepest drop among the top ten came from USDC, whose 0.39% dip translated to more than $304 million in outflows. Together, these five assets represent the vast majority of the total $317.134 billion stablecoin market cap, or approximately 87.1%.

Stablecoins generated roughly $1.96 trillion in gross transfer volume, with about $508 billion attributed to authentic settlement volume, according to Crystalintelligence. Overall, the stablecoin sector is holding its position with steady expansion, driven by a handful of dominant players and a few standout movers like USDS.