Stablecoin Recap Aug 10–17, 2026: USX experienced an outflow of $0.506 billion.
The total stablecoin market cap began the week at $298.0 billion and ended at $297.48 billion, a decrease of $0.49 billion or 0.16%. During a week that also saw USX's substantial outflow, the overall market remained relatively stable, with minor fluctuations.
USX led the outflows, shedding $0.506 billion, a 99.8% decrease. USDC followed with a $0.424 billion reduction, while Tether saw a smaller decline of $0.12 billion. SoFiUSD recorded the largest inflow of $0.31 billion, maintaining its market position. Ripple USD increased by $0.186 billion, a 12.1% rise. USDsui also gained $0.074 billion. In the same period, payments platform Decta explored stablecoin-enabled treasury settlement.
USDT's market dominance rose slightly by 0.07 percentage points to 61.5%, while USDC's fell by 0.1 percentage points to 24.1%. Two depegging events were recorded: USDL dropped to $1.14, 14% off its peg, and USD1 fell to $1.06, 6% off its peg. No new regulatory or enforcement actions were noted during this period.
No directly relevant macro developments were recorded this week.
What happened this week in stablecoins
- Total par-pegged stablecoin market capitalisation ended the week of 2026-08-17 at $297.48B, having shed $0.49B (-0.16%) over seven days.
- The largest inflow was SOFID (SoFiUSD), which added $0.31B (+0.0%) to reach $0.31B.
- The largest outflow was USX (USX), which shed $0.51B (-99.8%) to $0.00B.
- USDT dominance ended the week at 61.5% (+0.07pp); USDC at 24.1% (-0.10pp).
- Coins that traded outside 1.5% of par during the week: USDL ($1.1400, +14.00% from peg), USD1 ($1.0600, +6.00% from peg).
The week in two charts
Lifecycle and policy events this week
- Regulation 2026-08-10 — European Union: Consultation deadline extended to 30 September 2026.
- Regulation 2026-08-10 — United States: "final rules published"
- Regulation 2026-08-10 — United Kingdom: Taxation of stablecoins policy published
- Regulation 2026-08-10 — Japan: Japan has imposed notification obligations (i.e., travel rule) on Cryptoasset Exchange Service Providers and Electronic Payment Instruments Service Providers to submit information on originators and beneficiaries at the time of transfer of cryptoassets and stablecoins. ([fsa.go.jp](https://www.fsa.go.jp/en/news/2026/20260707/20260707.html?utm_source=openai))
- Regulation 2026-08-10 — Singapore: MAS Stablecoin Regulatory Framework implemented (status finalised → in_force)
- Regulation 2026-08-17 — United States: "final rules published"
- Regulation 2026-08-17 — Hong Kong: "First batch of stablecoin issuer licences issued in April 2026."
- Regulation 2026-08-17 — Japan: Japan has imposed notification obligations (i.e., the 'travel rule') on Cryptoasset Exchange Service Providers and Electronic Payment Instruments Service Providers to submit information on originators and beneficiaries at the time of transfer of cryptoassets and stablecoins, effective August 3, 2026. ([fsa.go.jp](https://www.fsa.go.jp/en/news/2026/20260707/20260707.html?utm_source=openai))
- Regulation 2026-08-17 — South Korea: "final rules published" (status proposed → enacted)
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