How much did stablecoin issuance change?

TLDR

Stablecoin net issuance increased by roughly $1.8 billion over the past week, and outstanding supply is near a record about $310 billion.

1. Weekly net mints were about $1.79 billion, led by USDT and USDC issuers minting on multiple chains (weekly breakdown).
2. Total stablecoin market cap stands around $310 billion, a new high in 2025 (market cap update).
3. Year to date, issuance rose from roughly $200 billion to about $280 billion by early December per Citi research, before climbing further (Citi summary).

Deep Dive

1. Weekly Flow

The latest weekly snapshot shows net stablecoin supply up by about $1.79 billion, with Tether minting approximately $593 million across Tron, Solana, and Arbitrum and Circle adding around $556 million on Ethereum, Solana, and Base (weekly breakdown). Because stablecoins target $1, weekly market cap changes largely track net issuance.

2. Outstanding Supply

Aggregate stablecoin capitalization is near a record about $310 billion, signaling a strong expansion of on-chain dollars this year (market cap update). Structural drivers include new compliant entrants and expansion efforts like Ripple USD testing multichain issuance on L2s and Binance deepening support for USD1 as collateral and pairs (RLUSD multichain test; USD1 expansion).

3. Year To Date

Citi research in mid December observed stablecoin issuance rising from about $200 billion at the start of 2025 to roughly $280 billion, with subsequent trackers placing the total near $310 billion as of mid December (Citi summary; market cap update). Differences reflect timing and dataset coverage, but the trend is firmly up.

Conclusion

Stablecoin issuance is trending higher. The latest week added about $1.8 billion, and aggregate supply is at or near record levels. For practical monitoring, watch large USDT and USDC mint or burn events and policy milestones, since they often lead changes in crypto liquidity conditions.