The Defiant explains that stablecoin market capitalization can fluctuate due to issuance and redemptions affecting circulating supply. Transfers do not impact this supply, meaning that price changes can alter market cap without any tokens being issued or redeemed. This highlights the complexity of stablecoin valuation and market behavior.
Based on the The Defiant report; not independently verified.
Source published: Fri, 06 Nov 2026 18:12:32 GMT
[Read the original report](https://thedefiant.io/news/tokens/what-is-stablecoin-market-cap-supply-share-and-dominance-explained)
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