How to read live crypto data, written by the people who run the pipeline behind it.
The stablecoin market cap sits at $291.3 billion with $76.11 billion of daily volume — a turnover ratio no other crypto asset comes close to.
Bitcoin dominance stands at 56.9% and ether at 11%, leaving every other token to share the remaining 32% of a $2.78 trillion market.
Asia stablecoin regulation is accelerating: Japan''s Payment Services Act lets banks issue, Hong Kong is licensing issuers, and Korea will tax tokenized stocks.
Stablecoin net flows to exchanges turned positive on 1 September after 113 days of outflows, but fell from $13.85m to $6.85m within two days.
Ethena's fee switch passed with 17m ENA in favour and zero against, but buybacks only start when USDe supply reaches $7.5bn, up from about $4.07bn.
The stablecoin market hit $314.68bn with USDT and USDC holding 83%. GENIUS Act enforcement begins January 2027, and mid-sized issuers are the risk.