Stable Tape
The record of the stablecoin monetary system
LATEST FIXING
The daily record for the onchain dollar system.
A governed fixing at 16:00 London, published as the Daily Tape, preserved in history and explained in Stable Briefing.
CURRENT RECORD · 23 SEPTEMBER 2026
ODSONCHAIN DOLLAR SHARE Not published GOVERNED M2 REQUIREMENTS NOT SATISFIED
Not publishedOBSERVED 16:00 LONDON
Onchain Dollar Share measures stablecoin supply against US M2, the broad measure of US dollars in the economy. Why US M2
ODS is not carried forward, reconstructed from another M2 value, or represented as zero when its component is unavailable. The Supply record for this date stands; earlier ODS readings remain in the Archive.
Source: DeFiLlama (stablecoin supply)Not publishedNot published$311.96bnGoverned M2 requirements were not satisfiedODS not published
RECORD DT-20260923-1a82b21d007d
Open dated record
Publication status
Current published record
Published numerical readingThe market reading was frozen and published for this date, with current Structure and a Structure Move measured from 22 September 2026.
Next observation
16:00 London
Source observations
What each source reported
23 September 2026 fixing
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Designated measurement
Stable Tape
reads from DeFiLlama
DeFiLlama — observed
USD stablecoin supply, in the benchmark universe
Face value whole market
Reported$311.96bnObserved23 Sep 2026 -
Comparison source
CoinMarketCap
CoinMarketCap — observed
Use permitted with attribution
USD Stablecoin category market capitalisation
Market price own universe
Reported$306.53bnObserved23 Sep 2026, 15:05 UTC -
Comparison source
CoinGecko
CoinGecko — observed
Commercial use covered by CoinGecko standard Commercial License
Stablecoins category market capitalisation
Market price own universe
Reported$292.12bnObserved23 Sep 2026, 15:01 UTC
These sources count different universes on different bases. Stable Tape never averages, ranks or reconciles them.
All source observationsDifferent providers measure the stablecoin market differently. These reported values are kept separate, never averaged. Onchain Dollar Share is Stable Tape’s own benchmark and no other source publishes it.
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Stable Tape Daily Tape measurement $311.96bn 23 September 2026 Preserved as published The published measurement
Designated source: DeFiLlama
- Who
- Stable Tape publishes the Daily Tape, a dated record of the stablecoin monetary system.
- Measures
- Total USD stablecoin supply, read once a day at 16:00 London and published as a dated record.
- Counts
- The USD stablecoin universe defined by Stable Tape’s methodology, read once a day at the 16:00 London cutoff.
- History
- Preserved as published. Recorded when it was published and kept unchanged since.
- Differs because
- Stable Tape counts the universe its published methodology defines, at its own daily cutoff. A source using a different universe or a different reading time will report a different total. Methodology ↗
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CoinMarketCap Independent comparison $306.53bn 23 September 2026, 15:05 UTC Preserved as published These readings measure different quantities and are not directly comparable. Observed 905 minutes apart.
- Who
- CoinMarketCap is an independent cryptocurrency market-data provider.
- Measures
- The market capitalisation of the assets in CoinMarketCap’s USD Stablecoin category, converted to USD.
- Counts
- CoinMarketCap’s USD Stablecoin category market capitalisation in USD, across the assets CoinMarketCap assigns to category 625d04fa57c0560770d004e1.
- History
- Preserved as published. Recorded when it was published and kept unchanged since. CoinMarketCap history begins on 27 August 2026; no earlier observations are implied.
- Differs because
- CoinMarketCap controls category membership and applies market prices to its circulating-supply figures. Its category can include algorithmic assets and separately listed staked, yield-bearing or bridged representations, and it does not publish a chain-allocation total for this field. Methodology ↗
- Rights
- Use permitted with attribution
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CoinGecko Independent comparison $292.12bn 23 September 2026, 15:01 UTC Preserved as published These readings measure different quantities and are not directly comparable. Observed 902 minutes apart.
- Who
- CoinGecko is an independent cryptocurrency data provider.
- Measures
- The combined market capitalisation of the assets in CoinGecko's Stablecoins category.
- Counts
- CoinGecko's Stablecoins category market capitalisation, across the assets CoinGecko places in that category.
- History
- Preserved as published. Recorded when it was published and kept unchanged since. CoinGecko history begins on 18 August 2026; no earlier observations are implied.
- Differs because
- CoinGecko decides which assets belong in the category and values them at market price, so a token trading below its peg counts for less than its face value. Stable Tape’s universe and its 16:00 London cutoff are its own.
- Rights
- Commercial use covered by CoinGecko standard Commercial License
Why are these numbers different?
Sources count the stablecoin market differently. They include different assets, treat broken pegs differently, and read at different times.
Stable Tape does not average them. The Daily Tape uses one defined measurement, and every other source is shown on its own, so you can see where they agree and where they do not.
How Stable Tape uses sources
- One defined measurement stands behind the Daily Tape.
- Every other source is an independent witness, not an input.
- Stable Tape does not average them.
- When sources disagree, that is a reason to look, not a reason to change the number.
- A comparison source never changes the published record on its own.
- Where rights permit, Stable Tape keeps what a source reported on the day it reported it.
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Stable Briefing · 23 September 2026
USD stablecoin supply rose $53.72m at the 23 September fixing.
The daily reading, what moved, and the evidence behind it. Read, cite or share the same published record.
90 records are archived from 17 June to 23 September 2026. Two dates are marked as gaps. Three of them, dated 17 June to 19 June, were archived before Stable Tape began publishing a record hash on 20 June and carry none.
Sources and verification
Governed daily fixing · 16:00 London · Once per day · Withheld if checks fail · Never reconstructed
Stable Tape, Daily Tape record for 23 September 2026: USD stablecoin supply $311,961,456,656. Onchain Dollar Share and its reciprocal were unavailable and were not recorded. https://stabletape.com/tape/2026-09-23
Record hash1a82b21d…1a0b371bfull hash on the dated record