Are Stablecoin Holders Redeeming or Minting?
Per-coin 7-day, 30-day, and 90-day market cap flow analysis across 12 stablecoins above $500M, updated daily from Apr 2025. Aggregate 30-day net flow: +2.3B (Net Inflow). When multiple major coins show red across all three horizons simultaneously, it signals a systemic risk-off episode worth monitoring.
Aggregate 30D Net Flow
+2.3B
Net Inflow
Coins Expanding (30D)
6
>+1% 30-day change
Coins Contracting (30D)
3
<−1% 30-day change
Coins Tracked
12
≥$500M market cap
Aggregate Flow
Rolling 30-Day Net Market Cap Change
Rolling 30-day window: total stablecoin market cap minus value 30 days prior. Green bars = net minting. Red bars = net redemption.
Inflow Ranking
Per-Coin 30-Day Market Cap Change
Current 30-day market cap change by coin (≥$500M). Sorted by highest to lowest. Always shows full 30-day window regardless of date toggle.
Redemption Pressure by Coin
| Symbol | Name | Market Cap | 7D | 30D | 90D |
|---|---|---|---|---|---|
| USDT | Tether | $184.1B | -0.0% | +0.1% | -1.5% |
| USDC | USDC | $78.3B | +1.3% | +0.1% | +4.4% |
| USDS | USDS | $11.5B | -1.6% | +3.3% | +15.2% |
| SUSDS | sUSDS | $6.5B | -1.4% | +5.1% | +35.0% |
| USDE | Ethena USDe | $5.8B | -0.9% | -1.6% | -7.5% |
| DAI | Dai | $4.4B | -0.6% | +3.4% | +4.1% |
| USD1 | USD1 | $4.3B | -2.6% | -6.7% | +25.4% |
| PYUSD | PayPal USD | $3.9B | -2.2% | -3.1% | +7.9% |
| SUSDE | Ethena Staked USDe | $3.5B | -1.2% | -0.7% | -3.2% |
| SYRUPUSDC | syrupUSDC | $1.8B | +4.2% | +14.2% | +20.4% |
| USDF | Falcon USD | $1.8B | +2.6% | +3.2% | -17.2% |
| USDTB | USDtb | $866M | +0.2% | +3.6% | +2.0% |
Source: CoinGecko daily market cap snapshots. Green = >+1% change · Gray = −1% to +1% · Red = <−1%. Updated daily at 15:30 UTC.
Frequently Asked Questions
Are stablecoin holders redeeming or minting right now?
Over the 30-day window ending Apr 2026, the aggregate stablecoin market cap changed by +2.3B (Net Inflow). 6 tracked coins are in net expansion; 3 are in net contraction. The traffic-light table above shows per-coin 7D, 30D, and 90D flows.
What is redemption pressure in stablecoins?
Redemption pressure occurs when stablecoin holders convert holdings back to fiat faster than new coins are being minted, resulting in declining market cap over time. Sustained redemption pressure can signal risk-off sentiment or loss of confidence in a specific issuer. It is most visible when 30D and 90D columns are simultaneously red across multiple major stablecoins.
How does this differ from the Supply Shock Index?
The Supply Shock Index (SSI) normalises supply change by transactional volume — a demand-adjusted view. The Redemption Pressure Gauge measures raw market cap flows without normalisation, making it better for identifying which specific coins are experiencing sustained inflows or outflows across multiple time horizons (7D / 30D / 90D).
What does a red 90-day reading in the table mean?
A red 90-day cell means the stablecoin market cap declined more than 1% over the past 90 days — persistent net redemption over a quarter. When 7D, 30D, and 90D columns are all red for a coin, it signals a sustained outflow trend that warrants closer monitoring of reserve health and redemption mechanics. A single red 7D reading is normal market noise.
Which stablecoin has the most inflows right now?
As of Apr 2026, the coins with the largest positive 30-day market cap change are shown at the top of the Inflow Ranking chart above. Rankings update daily from CoinGecko snapshots and reflect circulating supply changes across 12 stablecoins above $500M market cap.