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

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TetherUSDT

Fiat-backedPegged USD

MCap

$184.10B

30d

-1.26%

Chains

98

Sky DollarUSDS

Crypto-backedPegged USD

MCap

$6.64B

30d

-18.89%

Chains

4

Comparison Matrix

Live supply metrics normalized side by side.

Metric	USDT	USDS	Δ
Market Cap	$184.10B	$6.64B	+2671.8%
24h Supply	+0.02%	+0.85%	-0.83pp
30d Supply	-1.26%	-18.89%	+17.63pp
Chain Count	98	4	+94

Supply Over Time

USDT vs USDS, USD circulating.

USDT top chains

Chain	Supply	Share
Tron	$89.68B	x 48.7%
Ethereum	$76.13B	x 41.4%
BSC	$9.18B	x 5.0%
Solana	$2.91B	x 1.6%
Polygon	$917.72M	x 0.5%
Arbitrum	$913.21M	x 0.5%

USDS top chains

Chain	Supply	Share
Ethereum	$6.53B	x 98.3%
Arbitrum	$99.77M	x 1.5%
Solana	$12.33M	x 0.2%
Base	$1.95M	x 0.0%