How much stablecoin supply changed weekly?

TLDR

Over the past week, the total stablecoin market cap slipped by about 0.33% (roughly $1 billion) per DeFiLlama data cited in a market note. See the weekly decline reference here.

1. Solana stablecoin supply rose about 10% week over week, roughly $1.3 billion, to around $14.33 billion, indicating chain-specific inflows (report).
2. Net capital moved out of crypto via stables last week, with about $800 million of outflows to fiat, signaling softer internal liquidity (analysis).

Deep Dive

1. Global Weekly Change

The aggregate stablecoin float edged down by about 0.33% week over week, putting total market cap near $302.84 billion, a modest contraction that points to slight risk-off conditions. The weekly change and level are summarized in a market note referencing DeFiLlamas dataset (weekly decline reference).

This kind of small weekly dip typically reflects a mix of net redemptions and lower new issuance, rather than a structural break.

2. Chain-Level Dispersion

While the total shrank slightly, Solanas on-chain stablecoin supply increased about 10% week over week (about $1.3 billion), bringing its stack back to roughly $14.33 billion. This highlights how chain-level liquidity can rise even if the aggregate is flat to down (Solana week change).

Such dispersion often signals rotation as participants pursue lower fees, deeper venues, or current narratives on specific ecosystems.

3. Flow Drivers And Context

Last week saw around $800 million flow out of crypto via stables into fiat, and the total stablecoin market cap fell by about $4.6 billion since the start of the month, indicating fading issuance momentum. These moves have coincided with spot Bitcoin ETF outflows and broader risk-off action that dragged down stablecoin supply in recent weeks (flow snapshot).

Flows can swing quickly, but when ETF redemptions and risk aversion rise together, stablecoin supply growth often stalls or reverses.

Conclusion

Weekly stablecoin supply dipped slightly overall, even as Solana saw a sharp increase. The small global contraction aligns with risk-off flows and ETF outflows, while chain-level rises show rotation rather than uniform retreat. Monitor aggregate supply trends alongside chain-specific inflows to gauge where liquidity is actually building.