In brief
- Stablecoin supply hit a new all-time high above $311 billion this week, led by USDT and USDC, even as Bitcoin slid below $90K.
- Crypto volatility spiked, with $592.4M in liquidations in 24 hours, including $230M in Ethereum and $204M in Bitcoin, signaling a rise in risk aversion.
- Myriad Markets users place a 97.5% chance on the stablecoin market cap remaining below $360B in January.
The global stablecoin market surged to a new all-time high this week, surpassing $311 billion in total supply, even as broader crypto markets struggle under sharp price declines and heavy liquidations.
According to data from DeFiLlama, the stablecoin market cap peaked at $311.332 billion on January 18, and currently sits at $309.066 billion.
Tether’s…
Jan 22 2026
