Stablecoin Recap Mar 16–22, 2026: USDC added $0.346 billion.

The total stablecoin market capitalization increased from $325.07 billion to $326.06 billion, a rise of $0.99 billion or 0.31%. This growth occurred during a week when UK borrowing costs reached their highest level since the 2008 financial crisis, with concerns about inflation, interest rates, and public spending.

USDC led the inflows with an increase of $0.346 billion. In the same period, Circle's policy chief urged the UK to integrate MiCA clarity with US stablecoin regulations. sUSDS, a synthetic stablecoin, saw inflows of $0.177 billion, during a broader fintech push to control payment rails. syrupUSDC, a yield-bearing variant, added $0.142 billion. PayPal USD saw a decline of $0.041 billion, as PayPal expanded its stablecoin to 70 new countries. Ripple USD and YLDS also experienced outflows of $0.036 billion and $0.025 billion, respectively.

USDT's market dominance ended at 56.5%, a slight decrease of 0.13 percentage points. USDC's dominance increased by 0.03 percentage points to 24.3%. Two stablecoins experienced depeg events: USDL fell to $1.025, 2.5% off its peg, and USD1 dropped to $1.037, a 3.7% deviation. Regulatory discussions included a US ban on stablecoin yield offerings, as noted by a Ledger executive, and ongoing debates about stablecoin roles in financial systems, with potential impacts on banks mentioned by experts.

No directly relevant macro developments were recorded this week.