What does stablecoin supply measure?
It sums the circulating supply of the major stablecoins into one aggregate. This is a supply proxy for available on-chain buying power, not a strict market capitalization of any single issuer, and we label it as a supply figure for that reason.
How it is calculated
The page follows the combined circulating supply of tracked stablecoins as a daily series. Because it aggregates several issuers, the trend matters more than any one token's number.
How to read it
A rising aggregate suggests capital is accumulating in stable form and buying power is building; a contracting aggregate suggests capital is leaving the crypto system through redemptions. Read as a slow tide behind risk appetite rather than a short-term trigger.
What it does not tell you
Stablecoin supply is a supply proxy, not a promise of buying — parked capital may never rotate into Bitcoin. Issuer mix and chain coverage shape the figure. Live values are in the authenticated app.