18 June 2026

Digital Dollar Dominance

June 2026

Since the previous record

What moved

Stablecoin Signal

Colophon

Citation

What did not change

Snapshot pair and continuity

Integrity

Data-quality notes stored with this record

Notes

Daily Tape · Almanac

Bootstrap Thursday · preserved record, outside the canonical daily series

Record 2 of 51 in the published archive · 48 canonical · 3 bootstrap · 2 declared gaps · Daily Tape history

Bootstrap record. Captured during Stable Tape initialization. Not part of the canonical daily series.

1 in 72 dollars is a stablecoin

On this record, USD stablecoin supply of $315.15B stood at 1.3820% of a U.S. M2 money stock of $22.80T, measured against the April 2026 reference month.³ see note 3

Precise DDD

1.3820%

Stored share of U.S. M2

Published benchmark

1.38%

Rounded for reading

USD stablecoin supply

$315.15B

$315,147,366,331

U.S. M2

$22.80T

April 2026 reference month · M2 as of: 2026-04-01

Stored net movement

+$9.2M

Supply expanded over the frozen Daily Tape window.¹ see note 1

Exact stored denominator $22,804,500,000,000.

12 records · 3 bootstrap · 2 declared gaps

Canonical record
Bootstrap record
Declared gap, no record

July 2026 All months in the archive

17 June 2026 is the previous published record, 1 day earlier. Both records are frozen; the change below is the difference between two figures that were each written once and are never revised.

Previous record17 June 20261.3818%$315.12B supplyM2 April 2026

This record18 June 20261.3820%$315.15B supplyM2 April 2026

This record set beside the previous published record
Measure	17 June 2026	18 June 2026	Change
Record date	17 June 2026	18 June 2026	1 day
Digital Dollar Dominance	1.3818%	1.3820%	+0.0001 pp
Published benchmark	1.38%	1.38%	unchanged
Public expression	1 in 72	1 in 72	unchanged
USD stablecoin supply	$315.12B	$315.15B	+$24.1M
U.S. M2	$22.80T	$22.80T	unchanged
M2 reference month	April 2026	April 2026	unchanged
Stored net movement¹ see note 1	−$186.3M	+$9.2M	each record stores its own
Gross expansion² see note 2	$493.4M	$1.13B	each record stores its own
Gross contraction² see note 2	$679.7M	$1.12B	each record stores its own

The stored U.S. M2 denominator did not change between these two records, so no split between numerator and denominator is shown and none is claimed. The whole of the benchmark movement above sits in the numerator.³ see note 3

the stored U.S. M2 denominator
the M2 reference month (April 2026)
the record schema (version 8)
the public expression (1 in 72)

The movement totals this record stored. Gross expansion and gross contraction are measured separately and cannot be derived from net alone. Contributor attribution is not promoted for records outside the canonical daily series.

Net movement

+$9.2M

Supply expanded over the frozen Daily Tape window.¹ see note 1

Expanded

$1.13B

Observed supply expansion

Contracted

$1.12B

Observed supply contraction

Gross activity

$2.25B

Expansion and contraction combined² see note 2

A plain reading of the record above. This record is outside the canonical daily series, so no market Signal is presented as selected for it.

Record reading Supply expanded

DDD stands at 1.38% as supply expanded by $9.2M.

1.38% of U.S. M2 · equivalent to 1 in 72 U.S. dollars · M2 as of 2026-04-01

This archive record does not change. Selected by fixed public rules, not by an editor or AI — a market observation, not a trading signal.

How this Signal was selected14 published rule families and selection detail

Record status. This record is outside the canonical series, so no market Signal is presented as selected.

1Record validityOnly a complete canonical Daily Tape record can produce a market Signal.
2DDD benchmark or milestoneA material DDD move, rounded 1-in-N milestone, or genuinely denominator-driven M2 update.
3Archive extremeThe largest same-direction daily move in a sufficiently deep canonical archive.
4Sequence reversalA material move reverses or interrupts the immediately preceding run in the other direction.
5Weekly extremeThe largest daily move in the latest complete seven-record window.
6Large daily movementA net daily supply move clears the published large-movement floor.
7Multi-day streakSupply keeps moving in the same direction across contiguous canonical days.
8Weekly supply trendThe latest seven canonical records show a material directional endpoint trend.
9Quiet market with weekly contextA quiet day is placed in the context of the latest seven-record trend.
10Issuer or chain trendA clean endpoint-confirmed issuer or chain move explains the weekly change.
11Offsetting movementLarge opposing supply changes leave the net daily move close to flat.
12Broad issuer movementMovement is broad across major issuers rather than concentrated in one name.
13Quiet readingSupply remains inside the published flat threshold after stronger families are tested.
14Net supply movementThe plain directional daily movement when no more specific family is eligible.

Stable Tape tests each canonical record against these published families in order. Eligibility includes materiality, repetition, attribution and data-quality guards. View exact thresholds and wording rules →

Signal wording uses rounded figures; the tables above show the exact frozen values.

How this record was made, printed with it so the two cannot be separated. Every field is read from the frozen record and never recomputed from live data.

Record date: 18 June 2026
Official cutoff: 12:00 UTC
Snapshot captured: 18 June 2026, 13:19:56 UTC
Record frozen: 18 June 2026, 18:55:54 UTC
Record status: BootstrapSecond frozen Daily Tape record (schemaVersion 1), same thin schema and numerator-definition bug as 2026-06-17, plus a confirmed provider-coverage artifact in its movement breakdown. Preserved for audit purposes; excluded from the canonical citable series.
Permanent route: https://onchaindollarshare.com/tape/2026-06-18

Numerator source: DeFiLlama defillama
Denominator source: FRED M2SL FRED:M2SL
M2 reference month: April 2026
Movement basis: owned-snapshots
Schema version: 8

Continuity boundary: bootstrap record. No predecessor snapshot is available to join this record to.

The benchmark on this record is read from the closing snapshot. The movement is measured across the opening and closing pair.¹ see note 1

This record stores no reconciliation block, so no agreement check is shown and none is claimed.

Bootstrap record. No canonical integrity block is present for this record.

No hash, canonicalisation or algorithm is stored for this record, so none is shown and none is reconstructed. The record remains permanently published and reachable.

schemaVersion 1: same schema limitations as 2026-06-17 (no provenance object, no rows, no movementBreakdown, no integrity hash).

Numerator-definition bug (pre-dates fix commit dd8d867): benchmark.totalSupplyUsd (315,147,366,331) includes non-USD pegs. USD-only total was 314,266,354,235. Correct oneInN would be 73, not the reported 72.

CONFIRMED numerator contamination in movement.topExpansion: USDX Money (+$647,492,552, previousSupplyUsd: 0) is driven by DeFiLlama adding BSC ($528.47M) and Arbitrum ($119.02M) chain coverage for USDX between the previous snapshot (2026-06-17T10:38Z, USDX total $32.6M across 4 chains) and this one (2026-06-18T13:20Z, USDX total $716.0M across 7 chains) — not a same-day mint. Verified directly against data/tape-snapshots/snapshot-20260617T1038Z.json and snapshot-20260618T1319Z.json. Inflates this day’s expandedUsd by roughly $647M of $1.13B.

benchmark.oneInN/sharePct are unaffected by the USDX artifact (computed from total supply / M2 only, not per-token attribution) but are affected by the numerator-definition bug above.

This record is preserved for audit and remains permanently addressable, but it is not part of the canonical daily series and carries none of its guarantees.

Net movement is the figure this record stored, measured between the two source snapshots named in the colophon. It is not the difference between two published supply levels, and it is not transaction-level mint or burn data.
Gross expansion and gross contraction are measured separately and cannot be derived from net movement alone. A record with small net movement can still carry large activity in both directions.
U.S. M2 is a monthly series published by FRED, typically lagged four to six weeks. Each record carries the reference month that was in force when it was frozen. No daily M2 value is interpolated between months.
The previous record is the previous published record in the archive, which is not always the previous calendar day. Declared archive gaps are stepped over, never closed up.
Bootstrap record. No canonical integrity block is present for this record.

2121 June 2026, declared archive gap, no record

2222 June 2026, declared archive gap, no record

Cite the record, not the route index. A record cannot change; the archive grows. Every form below expresses the same frozen record and adds no claim to it.

Stable Tape Daily Record, 2026-06-18 (bootstrap reading, not part of the canonical daily series): DDD was 1 in 72 dollars, based on $315.15B USD stablecoin supply and $22.80T U.S. M2 as of 2026-04-01. Source: DeFiLlama (stablecoin supply) + FRED M2SL (U.S. M2). https://onchaindollarshare.com/tape/2026-06-18

Permanent record This record as JSON Methodology Developers and API

Short referencepresentation and social: Stable Tape, Daily Tape 2026-06-18: Digital Dollar Dominance 1.38% (1 in 72). https://onchaindollarshare.com/tape/2026-06-18
Footnotereport, policy and research: Stable Tape, “Daily Tape: 18 June 2026”, Digital Dollar Dominance 1.3820% of U.S. M2 (April 2026); USD stablecoin supply $315.15B. Accessed at https://onchaindollarshare.com/tape/2026-06-18.
Data notejournalism and chart sources: Source: Stable Tape Daily Tape record 2026-06-18 (https://onchaindollarshare.com/tape/2026-06-18). Numerator: USD stablecoin supply, DeFiLlama. Denominator: U.S. M2, FRED M2SL, April 2026. Frozen record; values are not revised.

Permanent address https://onchaindollarshare.com/tape/2026-06-18. No export is offered that this archive does not publish.

Further contextDerived windows, subordinate to this record

These figures describe a window of recent canonical records, not this one. They are derived, they are not part of the frozen record, and they carry none of its guarantees.

Recent state

Recent state is unavailable because the selected record is not present in a validated canonical history window.

DDD = USD stablecoin supply ÷ U.S. M2. Numerator: total USD-denominated stablecoin supply (DeFiLlama). Denominator: U.S. M2 money stock, seasonally adjusted (FRED M2SL), typically lagged 4–6 weeks. Each record is frozen at its stated cutoff and never recomputed from live data. The /tape entry points to the latest canonical dated record. Methodology.

Every record in the Daily Tape history