Stablecoin dry powder
Stablecoins are dollars that already made the jump into crypto. The size of that float is the market's fuel gauge: money staged to buy, or money heading for the exit.
All dollars parked in stablecoins across chains, per DefiLlama.
The direction of the line is the story: a growing float means money is staying in the arena, staged to buy; a shrinking float means money is leaving crypto entirely. The 30-day change chip gives you the recent lean at a glance.
One-year float
Dry powder 101
Before anyone can buy crypto at scale, dollars have to enter the system, and they usually arrive as stablecoins. A growing float is potential demand parked at the door. It does not say when, or whether, that money will actually buy.
Issuers create (mint) stablecoins when money comes in and destroy (burn) them when it leaves. The biggest mints and burns show up as news in our daily brief, because a billion-dollar mint is a story, not just a statistic.
This page shows the SIZE of the float; Whale Watch shows where big chunks of it are MOVING, onto or off exchanges. Size is the fuel level, flows are the throttle.
This time last week: up 0.6% since.
As of 8:24 PM ET on Oct 15, 2026.
Sources: public market data, alternative.me, mempool.space.