Stablecoin Supply Concentration by Issuer
Latest reviewed Dune snapshot of USD stablecoin supply concentration by asset.
This chart ranks the reviewed USD stablecoin universe by total tracked balances and reports top-1 share, top-3 share, and HHI on a 0-10000 scale.
Quick answer
As of 2026-06-25, USDT holds 60.9% of reviewed USD stablecoin tracked balances; the top three hold 86.1% and HHI is 4,250. Total tracked balances are $333.2B. The denominator covers 158 in-scope assets.
What you should know about this indicator
- This is a reviewed latest-day snapshot of same-universe balance concentration.
- Top-1, top-3, and HHI are computed inside the same reviewed USD stablecoin denominator.
- HHI uses a 0-10000 scale, so higher values mean more concentrated tracked balances.
- Read this as a reviewed latest-day total tracked balances concentration snapshot with a fixed denominator.
Methodology
How this metric is calculated, which source it uses, and what the current denominator means.
- Data through
- 2026-06-25
- Unit
- USD total tracked balances and percent share
- Grain
- latest-day asset snapshot
How this metric is calculated
Rows come from Dune stablecoins_multichain.balances on the latest available day, filtered to positive balances and USD stablecoins from stablecoins_multichain.tokens. Values are summed as balance_usd by token_symbol; shares use the full in-scope denominator. HHI is calculated across all in-scope assets before display bucketing.
not automatically refreshed. Read this as a fixed research view, not live market state.
Evidence limits
- This chart supports same-universe balance concentration only.
- It does not support time-series conclusions without HHI-over-time evidence.
- Read this as a reviewed latest-day total tracked balances concentration snapshot with a fixed denominator.
Frequently asked questions
What does this chart measure?
It measures latest-day USD stablecoin total tracked balances by asset inside the reviewed Dune denominator.
What concentration metrics are shown?
The chart reports top-1 share, top-3 share, and HHI on a 0-10000 scale for the same reviewed snapshot.
Can this chart prove a trend?
No. Trend claims need an HHI time series; this page is a latest-day concentration snapshot.