Stablecoin Recap Aug 17–24, 2026: USDC added $1.72 billion in a week that saw a confirmed depeg.
The total market capitalization of stablecoins increased from $297.24 billion to $300.1 billion, a rise of $2.87 billion or 0.96%. This growth occurred during a week that also saw a confirmed depeg event.
USDC led the inflows with an addition of $1.72 billion. USX, a lesser-known stablecoin, experienced an inflow of $403 million, reflecting a percentage increase of 46,270.3%. Ripple USD (RLUSD) followed with an inflow of $342 million. Among the top losers, Global Dollar (USDG) saw an outflow of $79 million, while USDD and Sperax USD (USDS) recorded declines of $60 million and $26 million respectively.
USDT ended the week with a dominance of 61.0%, a decrease of 0.53 percentage points. USDC's dominance increased by 0.34 percentage points to 24.5%. A depeg event was recorded for USDL, which fell to a low price of $1.023, 2.3% off its peg. No regulatory or enforcement developments were reported 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 2026-08-24 at $300.10B, having added $2.87B (+0.96%) over seven days.
- The largest inflow was USDC (USDC), which added $1.72B (+2.4%) to reach $73.47B.
- The largest outflow was USDG (Global Dollar), which shed $0.08B (-2.3%) to $3.38B.
- USDT dominance ended the week at 61.0% (-0.53pp); USDC at 24.5% (+0.34pp).
- Coins that traded outside 1.5% of par during the week: USDL ($1.0230, +2.30% from peg).
The week in two charts
Lifecycle and policy events this week
- 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)
- Regulation 2026-08-24 — United States: "final rules published"
- Regulation 2026-08-24 — 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))
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