Stability and market resilience
The index tracks observed peg deviation behavior, market volatility, market cap stability, and volume trend context for major stablecoins.
Stablecoin risk, explained.
Stablecoin risk, explained.
Rules-based scoring across peg pressure, market resilience, and supply behavior, designed to stay legible and auditable.
The Index tracks public stablecoin risk signals. Blockbasis Watch applies those signals to the stablecoins in your watchlist.
Blockbasis WatchSelect USDC, USDT, USDe or other stablecoins. Blockbasis emails you when important risk signals change.
Public wallet scan is optional and read-only.
Last updated Nov 7, 2026, 12:00 AM UTC
Stablecoin type matters because different designs can fail in different ways.
Reviewed profiles require source-backed metadata and a recorded review date. Partial is the default when freshness, confidence, or sources are incomplete.
Latest signal is generated from rules-based score and market metric changes.
| Latest signal | View | ||||||
|---|---|---|---|---|---|---|---|
| #1 | USD Coin Circle Fiat-backedPartial profile | $70.4B | 0 events max 0.08% | Green | Info: USDC reached a new 30d peg stress high | ||
| #2 | Tether USDt Tether Reserve-backedPartial profile | $177.6B | 0 events max 0.14% | Green | No recent signal | ||
| #3 | TrueUSD TrueUSD Fiat-backedPartial profile | $494,138,586 | 0 events max 0.26% | Green | Watch: TUSD moved to #10 by market cap | ||
| #4 | PayPal USD PayPal Fiat-backedPartial profile | $2.7B | 0 events max 0.14% | Green | Watch: PYUSD supply contracted 5.2% in 7 days | ||
| #5 | Dai Sky Mixed collateralPartial profile | $4.5B | 0 events max 0.06% | Green | Watch: DAI moved to #5 by market cap | ||
| #6 | First Digital USD First Digital Fiat-backedPartial profile | $282,868,169 | 0 events max 0.43% | Green | Watch: FDUSD supply contracted 5.5% in 7 days | ||
| #7 | Fei USD Fei Protocol Crypto-backedPartial profile | $3,823,262 | 0 events max 0.11% | Yellow | Info: FEI moved from Green to Yellow | ||
| #8 | USDD TRON DAO Reserve Crypto-backedPartial profile | $1.5B | 0 events max 0.42% | Yellow | Warning: USDD supply contracted 15.0% in 7 days | ||
| #9 | Ethena USDe Ethena Synthetic / delta-neutralPartial profile | $4.6B | 0 events max 0.22% | Yellow | Watch: USDE moved to #4 by market cap | ||
| #10 | Sky Dollar Sky Mixed collateralPartial profile | $8.8B | 0 events max 0.18% | Yellow | Watch: USDS health score fell 8.5 points | ||
| #11 | crvUSD Curve Crypto-backedPartial profile | $149,437,446 | 0 events max 0.25% | Yellow | Watch: CRVUSD supply contracted 9.4% in 7 days | ||
| #12 | Agora Dollar Agora Fiat-backedPartial profile | $156,164,620 | 0 events max 0.16% | Yellow | Watch: AUSD supply contracted 5.4% in 7 days | ||
| #13 | Euro Coin Circle Fiat-backedPartial profile | $517,170,455 | 31 events max 12.30% | Orange | Info: EURC supply expanded 6.7% in 7 days | ||
| #14 | Savings Dai Sky Crypto-backedPartial profile | $161,944,991 | 31 events max 18.49% | Orange | Watch: SDAI health score fell 9.3 points | ||
| #15 | Frax Frax Finance Mixed collateralPartial profile | $217,024,589 | 31 events max 1.02% | Orange | Warning: FRAX moved from Yellow to Orange | ||
| #16 | sUSDS Sky Crypto-backedPartial profile | $3.9B | 31 events max 12.45% | Orange | Warning: SUSDS supply contracted 12.9% in 7 days | ||
| #17 | USDH Hyperliquid Crypto-backedPartial profile | $21,321,831 | 11 events max 1.05% | Red | Watch: USDH health score fell 24.0 points | ||
| #18 | Mountain Protocol USDM Mountain Protocol Fiat-backedPartial profile | $966,146 | 5 events max 1.58% | Red | Watch: USDM health score fell 13.0 points | ||
| #19 | Liquity USD Liquity Crypto-backedPartial profile | $24,405,405 | 14 events max 6.65% | Red | Watch: LUSD supply contracted 8.4% in 7 days | ||
| #20 | Alchemix USD Alchemix Crypto-backedPartial profile | $10,429,018 | 31 events max 5.67% | Red | Watch: ALUSD health score fell 9.3 points | ||
| #21 | USDX USDX Unknown typePartial profile | $5,085,680 | 20 events max 99.26% | Red | Watch: USDX health score fell 8.5 points | ||
| #22 | Magic Internet Money Abracadabra Crypto-backedPartial profile | $1,991,282 | 31 events max 96.88% | Red | Info: MIM health score rose 9.6 points | ||
| #23 | USDB Blast Fiat-backedPartial profile | $8,248,181 | 12 events max 4.52% | Red | Watch: USDB supply contracted 5.2% in 7 days |
The index tracks observed peg deviation behavior, market volatility, market cap stability, and volume trend context for major stablecoins.
Health Score v1 is a deterministic weighted score from five components: peg pressure, volatility, market cap stability, volume trend, and a disclosure subscore derived from profile transparency fields.
Rules-based risk events from day-over-day score and market metric changes.
Nov 7, 2026, 12:02 AM UTC
infoUnknown · Info · 24h · Medium confidence
Health score moved from 81.5 to 73.0, triggering a risk band transition.
Prev 81.5 Now 73.0
Nov 7, 2026, 12:02 AM UTC
watchUnknown · Watch · 7d · Medium confidence
7d circulating supply change registered -5.19%.
Prev -9.77% Now -5.19%
Nov 7, 2026, 12:02 AM UTC
watchUnknown · Watch · 7d · Medium confidence
7d circulating supply change registered -5.53%.
Prev -3.54% Now -5.53%
Nov 7, 2026, 12:02 AM UTC
watchUnknown · Watch · 7d · Medium confidence
7d circulating supply change registered -8.31%.
Prev -1.92% Now -8.31%
Nov 7, 2026, 12:02 AM UTC
watchUnknown · Watch · 7d · Medium confidence
7d circulating supply change registered -9.39%.
Prev -18.09% Now -9.39%
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