Huoxing Finance reports that on April 4, despite a cooling cryptocurrency market, stablecoins continue to grow rapidly. According to DefiLlama data, the total market capitalization of stablecoins increased by 0.43% over the past week, reaching a record high of $317.255 billion in circulating supply. Meanwhile, USDT’s market share has continued to decline, falling below 60% to 58.03%. Sky’s stablecoin, USDS, has shown significant growth, with a 9.57% increase in circulating market cap over the past week, reaching $8.924 billion and becoming the third-largest stablecoin by market capitalization.
Stablecoin market cap reaches new high despite crypto market downturn
MarsBitShare
Summary
On April 4, 2026, the stablecoin market cap reached a new high despite a broader crypto market decline. According to DefiLlama data, total value rose to $317.255 billion, up 0.43% over the week. USDT’s market share dropped below 60% to 58.03%. Sky’s USDS increased 9.57% to $8.924 billion, becoming the third-largest stablecoin. While the cryptocurrency market remains volatile, stablecoins continue to gain adoption.
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