Total Stablecoin Cap Falls $1.9 Billion This Week While Sky Dollar Leads the Slide

According to Defillama data, the total stablecoin market cap fell 0.61% this week, down $1.911 billion to $311.311 billion as of July 5, 2026. Tether's USDT held a $184.112 billion market cap and accounted for 59.14% of the total.

Sky Dollar's USDS posted the steepest weekly decline among the top 15 stablecoins, falling 2.36% to $8.02 billion. PayPal's PYUSD led with a 4.25% gain, rising to $2.836 billion, while Circle's USDC fell 1.05% to $73.098 billion, the second-largest stablecoin by market cap.