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

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USD CoinUSDC

Fiat-backedPegged USD

MCap

$74.01B

30d

-0.23%

Chains

119

Sky DollarUSDS

Crypto-backedPegged USD

MCap

$6.66B

30d

-18.52%

Chains

4

Comparison Matrix

Live supply metrics normalized side by side.

Metric	USDC	USDS	Δ
Market Cap	$74.01B	$6.66B	+1012.0%
24h Supply	-0.46%	-0.31%	-0.15pp
30d Supply	-0.23%	-18.52%	+18.29pp
Chain Count	119	4	+115

Supply Over Time

USDC vs USDS, USD circulating.

USDC top chains

Chain	Supply	Share
Ethereum	$46.97B	x 63.5%
Solana	$8.00B	x 10.8%
Hyperliquid L1	$6.14B	x 8.3%
Base	$4.14B	x 5.6%
Arbitrum	$2.16B	x 2.9%
Polygon	$1.71B	x 2.3%

USDS top chains

Chain	Supply	Share
Ethereum	$6.54B	x 98.3%
Arbitrum	$99.77M	x 1.5%
Solana	$10.55M	x 0.2%
Base	$1.97M	x 0.0%