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 Oct 6, 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 | $74.2B | 0 events max 0.04% | Green | Info: USDC health score rose 9.6 points | ||
| #2 | Tether USDt Tether Reserve-backedPartial profile | $184.1B | 0 events max 0.07% | Green | No recent signal | ||
| #3 | PayPal USD PayPal Fiat-backedPartial profile | $2.9B | 0 events max 0.05% | Green | Info: PYUSD supply expanded 7.4% in 7 days | ||
| #4 | TrueUSD TrueUSD Fiat-backedPartial profile | $494,122,040 | 0 events max 0.12% | Green | No recent signal | ||
| #5 | First Digital USD First Digital Fiat-backedPartial profile | $324,623,394 | 0 events max 0.22% | Green | No recent signal | ||
| #6 | Dai Sky Mixed collateralPartial profile | $4.6B | 0 events max 0.03% | Green | Watch: DAI moved to #6 by market cap | ||
| #7 | Sky Dollar Sky Mixed collateralPartial profile | $10.1B | 0 events max 0.08% | Green | No recent signal | ||
| #8 | Fei USD Fei Protocol Crypto-backedPartial profile | $3,720,572 | 0 events max 0.06% | Green | Info: FEI health score rose 34.4 points | ||
| #9 | crvUSD Curve Crypto-backedPartial profile | $228,960,466 | 0 events max 0.08% | Green | Info: CRVUSD moved from Yellow to Green | ||
| #10 | Mountain Protocol USDM Mountain Protocol Fiat-backedPartial profile | $1,403,072 | 2 events max 0.72% | Yellow | Info: USDM moved from Green to Yellow | ||
| #11 | Ethena USDe Ethena Synthetic / delta-neutralPartial profile | $5B | 0 events max 0.09% | Yellow | Info: USDE supply expanded 5.1% in 7 days | ||
| #12 | Agora Dollar Agora Fiat-backedPartial profile | $219,067,167 | 0 events max 0.07% | Yellow | Info: AUSD moved from Green to Yellow | ||
| #13 | USDD TRON DAO Reserve Crypto-backedPartial profile | $1.6B | 0 events max 0.36% | Yellow | Info: USDD moved from Green to Yellow | ||
| #14 | Euro Coin Circle Fiat-backedPartial profile | $473,840,494 | 31 events max 16.31% | Yellow | Info: EURC supply expanded 5.0% in 7 days | ||
| #15 | USDH Hyperliquid Crypto-backedPartial profile | $21,345,526 | 8 events max 0.77% | Orange | Warning: USDH moved from Yellow to Orange | ||
| #16 | Savings Dai Sky Crypto-backedPartial profile | $164,281,950 | 31 events max 18.16% | Orange | Warning: SDAI moved from Yellow to Orange | ||
| #17 | Frax Frax Finance Mixed collateralPartial profile | $217,754,373 | 31 events max 0.98% | Orange | Warning: FRAX moved from Yellow to Orange | ||
| #18 | Alchemix USD Alchemix Crypto-backedPartial profile | $9,961,636 | 31 events max 5.41% | Orange | Warning: ALUSD moved from Red to Orange | ||
| #19 | sUSDS Sky Crypto-backedPartial profile | $4.8B | 31 events max 12.19% | Orange | Info: SUSDS supply expanded 6.7% in 7 days | ||
| #20 | Liquity USD Liquity Crypto-backedPartial profile | $26,217,776 | 23 events max 1.85% | Red | Watch: LUSD health score fell 9.2 points | ||
| #21 | USDB Blast Fiat-backedPartial profile | $10,881,743 | 10 events max 1.09% | Red | Watch: USDB health score fell 9.6 points | ||
| #22 | Magic Internet Money Abracadabra Crypto-backedPartial profile | $2,817,612 | 31 events max 98.26% | Red | Info: MIM health score rose 9.8 points | ||
| #23 | USDX USDX Unknown typePartial profile | $6,053,386 | 19 events max 99.12% | Red | Watch: USDX health score fell 15.3 points |
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.
Oct 6, 2026, 12:04 AM UTC
warningUnknown · Warning · 24h · Medium confidence
Health score moved from 65.5 to 59.5, triggering a risk band transition.
Prev 65.5 Now 59.5
Oct 6, 2026, 12:04 AM UTC
infoUnknown · Info · 7d · Medium confidence
7d circulating supply change registered +7.44%.
Prev 5.31% Now 7.44%
Oct 6, 2026, 12:04 AM UTC
infoUnknown · Info · 7d · Medium confidence
7d circulating supply change registered +6.72%.
Prev 4.46% Now 6.72%
Oct 6, 2026, 12:04 AM UTC
infoUnknown · Info · 24h · Medium confidence
Health score moved from 27.0 to 36.8 day over day.
Prev 27.0 Now 36.8
Oct 5, 2026, 12:03 AM UTC
infoUnknown · Info · 24h · Medium confidence
Health score moved from 79.0 to 84.2, triggering a risk band transition.
Prev 79.0 Now 84.2
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