USDC vs USDS: Market Cap, Peg & Supply | Sharpe Terminal

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USD CoinUSDC

Fiat-backedPegged USD

MCap

$73.44B

30d

-1.96%

Chains

120

Sky DollarUSDS

Crypto-backedPegged USD

MCap

$7.58B

30d

-10.65%

Chains

4

Comparison Matrix

Live supply metrics normalized side by side.

Metric	USDC	USDS	Δ
Market Cap	$73.44B	$7.58B	+868.9%
24h Supply	+0.04%	-0.43%	+0.47pp
30d Supply	-1.96%	-10.65%	+8.69pp
Chain Count	120	4	+116

Supply Over Time

USDC vs USDS, USD circulating.

USDC top chains

Chain	Supply	Share
Ethereum	$46.89B	x 63.9%
Solana	$7.28B	x 9.9%
Hyperliquid L1	$5.99B	x 8.2%
Base	$4.26B	x 5.8%
Arbitrum	$2.23B	x 3.0%
Polygon	$1.85B	x 2.5%

USDS top chains

Chain	Supply	Share
Ethereum	$7.47B	x 98.5%
Arbitrum	$99.77M	x 1.3%
Solana	$13.97M	x 0.2%
Base	$1.95M	x 0.0%