The supply of non-USD stablecoins has grown to approximately $771 million, while their market share has fallen to 0.24%.

CoinFeed reported on May 20th, citing CoinDesk, that while the supply of non-USD stablecoins increased from $261 million in May 2021 to approximately $771 million in April 2026, their market share decreased from 0.26% to 0.24%, with USD stablecoins still holding a 99.76% market share. While the dominance of the US dollar is slowly weakening in traditional finance, the situation is reversed on-chain. USD stablecoins are not only backed by the world's dominant currencies but are also increasingly supported by the world's deepest pools of short-term government debt. Furthermore, the tokenized US Treasury market is worth $15.4 billion, compared to only $1.4 billion for non-US tokenized government bonds, a difference of approximately 11 times. USD stablecoin issuers have access to a deep, highly liquid, yield-generating collateral base, while non-USD issuers lack equivalent reserve infrastructure.