USDC adds $584M as stablecoin supply nears $310B
USDC (USDC)
Editor:
Eugene Serbin
cryptobriefing.com reports that Circle’s USDC added approximately $584 million to its market cap over a seven-day period. This gain contributed to a combined $1.0 billion increase across USDC, Ethena’s USDe, and PayPal’s PYUSD. Total stablecoin supply has risen to between $303 billion and $310 billion.
USDC holds roughly $74 billion to $77 billion of that total, representing about 24% of the market. Tether’s USDT remains dominant with approximately $184 billion, or 60% market share. USDC outperforms rivals in adjusted on-chain transaction volume, capturing 60% to 70% in multiple 2026 periods.
August 2026 saw a larger $1.5 billion weekly supply increase, but current growth fits a pattern of consistent minting demand. USDC maintains reserves in cash and short-term Treasuries with regular attestations. Ethena’s USDe uses a delta-neutral strategy with spot ETH and shorted futures. PayPal’s PYUSD, built on Paxos infrastructure, has seen supply contractions between 11% and 35% previously.
How the market reacted
Whalio's own Binance spot order flow for USDC, measured when this story was written up on 6 September 2026. Not the outlet's figures.
USDC trades at $0.9998 with a 24-hour buy ratio of 50.1%, indicating balanced market participation. Short-term momentum shows a 1-hour buy ratio of 54.7% against a 4-hour ratio of 49.1%, suggesting immediate buying pressure is stronger than the broader four-hour trend. Volume delta reflects this shift, showing a positive $11,313,548 in the last hour compared to a negative $4,413,858 over four hours. The cumulative volume delta for the 24-hour close sits at +$12,183,586, confirming net inflows over the day. Net buying occurred for 13 of the last 24 hours. Spot volume reached $2,155,370,176 with 429,870 trades executed.
The latest daily buy ratio of 50.2% sits at the 73rd percentile of the last 322 days, against a median of 48.4% - stronger buying than most days.
Was that an ordinary day?
The same Binance spot measurements for USDC, averaged over the days leading up to the story.
The 24-hour buy ratio of 50.1% is slightly higher than the 7-day average of 48.8%, showing a marginal increase in buying interest. However, 24-hour volume at $2,155,370,176 is only 0.83 times the weekly average, indicating lower-than-usual activity. While the 24-hour period saw net buying for 13 hours, the preceding week had net buying for only 1 of 7 days. This suggests the current day is more active in terms of buying duration than the weekly norm. The 8-day volume delta total was -$296,160,067, contrasting with the current positive short-term delta.