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 Sep 14, 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 | Tether USDt Tether Reserve-backedPartial profile | $183.5B | 0 events max 0.08% | Green | Watch: USDT health score fell 9.3 points | ||
| #2 | PayPal USD PayPal Fiat-backedPartial profile | $2.8B | 0 events max 0.04% | Green | Watch: PYUSD supply contracted 5.1% in 7 days | ||
| #3 | USD Coin Circle Fiat-backedPartial profile | $74.2B | 0 events max 0.04% | Green | Info: USDC health score rose 9.6 points | ||
| #4 | TrueUSD TrueUSD Fiat-backedPartial profile | $494,148,624 | 0 events max 0.28% | Green | No recent signal | ||
| #5 | Dai Sky Mixed collateralPartial profile | $4.6B | 0 events max 0.03% | Green | Watch: DAI moved to #6 by market cap | ||
| #6 | Sky Dollar Sky Mixed collateralPartial profile | $9.9B | 0 events max 0.04% | Green | No recent signal | ||
| #7 | Fei USD Fei Protocol Crypto-backedPartial profile | $3,671,169 | 0 events max 0.07% | Green | Info: FEI moved from Yellow to Green | ||
| #8 | First Digital USD First Digital Fiat-backedPartial profile | $329,327,213 | 0 events max 0.31% | Green | Watch: FDUSD supply contracted 5.5% in 7 days | ||
| #9 | crvUSD Curve Crypto-backedPartial profile | $201,668,886 | 0 events max 0.15% | Green | Warning: CRVUSD supply contracted 19.3% in 7 days | ||
| #10 | Agora Dollar Agora Fiat-backedPartial profile | $245,509,975 | 0 events max 0.07% | Yellow | Watch: AUSD supply contracted 5.6% in 7 days | ||
| #11 | USDD TRON DAO Reserve Crypto-backedPartial profile | $1.5B | 0 events max 0.25% | Yellow | Info: USDD reached a new 30d peg stress high | ||
| #12 | Ethena USDe Ethena Synthetic / delta-neutralPartial profile | $4.6B | 0 events max 0.06% | Yellow | Info: USDE supply expanded 5.1% in 7 days | ||
| #13 | Mountain Protocol USDM Mountain Protocol Fiat-backedPartial profile | $1,401,770 | 3 events max 0.52% | Yellow | Info: USDM health score rose 9.6 points | ||
| #14 | Euro Coin Circle Fiat-backedPartial profile | $472,890,390 | 31 events max 17.10% | Yellow | Info: EURC moved from Orange to Yellow | ||
| #15 | sUSDS Sky Crypto-backedPartial profile | $4.6B | 31 events max 10.93% | Yellow | Warning: SUSDS reached a new 30d peg stress high | ||
| #16 | Frax Frax Finance Mixed collateralPartial profile | $217,582,693 | 31 events max 1.00% | Orange | Warning: FRAX moved from Yellow to Orange | ||
| #17 | Savings Dai Sky Crypto-backedPartial profile | $164,969,438 | 31 events max 18.09% | Orange | Warning: SDAI moved from Red to Orange | ||
| #18 | USDB Blast Fiat-backedPartial profile | $11,429,819 | 7 events max 0.81% | Orange | Warning: USDB moved from Yellow to Orange | ||
| #19 | Liquity USD Liquity Crypto-backedPartial profile | $26,554,919 | 24 events max 1.22% | Orange | Warning: LUSD moved from Red to Orange | ||
| #20 | USDH Hyperliquid Crypto-backedPartial profile | $21,304,264 | 14 events max 1.07% | Orange | Warning: USDH moved from Red to Orange | ||
| #21 | Alchemix USD Alchemix Crypto-backedPartial profile | $9,773,675 | 31 events max 6.55% | Red | Warning: ALUSD moved from Orange to Red | ||
| #22 | USDX USDX Unknown typePartial profile | $6,040,760 | 25 events max 99.12% | Red | Info: USDX health score rose 14.8 points | ||
| #23 | Magic Internet Money Abracadabra Crypto-backedPartial profile | $4,532,870 | 31 events max 95.67% | Red | Watch: MIM health score fell 9.6 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.
Sep 14, 2026, 12:02 AM UTC
warningUnknown · Warning · 7d · Medium confidence
7d circulating supply change registered -19.28%.
Prev -18.90% Now -19.28%
Sep 14, 2026, 12:02 AM UTC
infoUnknown · Info · 24h · Medium confidence
Health score moved from 62.3 to 65.5, triggering a risk band transition.
Prev 62.3 Now 65.5
Sep 14, 2026, 12:02 AM UTC
infoUnknown · Info · 7d · Medium confidence
7d circulating supply change registered +5.13%.
Prev 5.86% Now 5.13%
Sep 14, 2026, 12:02 AM UTC
watchUnknown · Watch · 7d · Medium confidence
7d circulating supply change registered -5.11%.
Prev -4.17% Now -5.11%
Sep 14, 2026, 12:02 AM UTC
warningUnknown · Warning · 24h · Medium confidence
Health score moved from 49.9 to 53.2, triggering a risk band transition.
Prev 49.9 Now 53.2
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