Workspace / Research tools
DeFi observatories

Compare USD-valued stablecoin circulation across chains

Stablecoin circulation by chain provides a different view of an ecosystem from protocol TVL. This screen compares the provider’s explicitly USD-valued stablecoin amounts across networks. Search for a chain, choose a minimum value and inspect each qualifying chain’s share of the returned compatible data.

Public DeFi observations load automatically with JavaScript. Provider timestamps, filters and CSV exports appear with the result.

Keep the units compatible

Only values supplied in the provider’s totalCirculatingUSD object enter the displayed chain sum. Raw target-currency circulation fields are not used as dollar values. A chain without an explicit compatible USD-valued observation is omitted rather than assigned a zero balance. The count of reported USD-valued peg fields indicates how many usable components contributed; it is not a count of issuers, holders or individual token contracts.

Compare absolute scale and proportional share

In a hypothetical valid response totaling $200 billion, a chain reporting $30 billion represents 15%. Searching for that chain would still show 15%, because the denominator includes all valid returned chains before the search and minimum filters. If a later response totals $250 billion while the same chain stays at $30 billion, its share falls to 12% without its own reported balance declining.

Use circulation to frame further questions

A chain with substantial stablecoin circulation may warrant closer study of where those tokens are used, but the balance alone cannot establish active users, turnover or immediately available trading depth. Native issuance, bridged representations and provider chain mappings affect interpretation. These results do not audit the solvency of bridges or issuers. Compare the chain-specific DEX activity view for a separate measure of reported trading flow, and examine peg exposure before treating a stablecoin balance as equivalent to cash available at par.

Primary documentation

Your research workspace

Save selected inputs and research notes explicitly in this browser. Compare assumptions and restore a saved setup without submitting a trade. JavaScript enables the controls.

Find a tool or research page