The share of all crypto value that is a dollar token, day by day — and the pile of those dollars in dollars, which the share alone will never tell you.
6.44% the dollar tokens, as a share of the market · USDT alone on Oct-22 2026, the last day in this build, read from a public record, published by askthetape.com.
Traders watch this number under the name USDT.D and read it as «money waiting on the sidelines». It is the share of all crypto value that sits in a dollar token: 6.44% on 2026-10-22, +0.23 points against 2026-09-22, thirty days earlier. Every stablecoin together is 9.00%, and USDT alone is 71.6% of that pile. 🩸 A SHARE HAS TWO WAYS TO RISE and the number does not say which: new dollars were printed, or the coins around them fell and the same dollars became a bigger slice. Over our 928 common days the share moves AGAINST the price, correlation -0.54 against the logarithm of bitcoin — so most of what you see on a red day is arithmetic, not arrivals. That is why this page draws the PILE in dollars next to the share: $281B at the last close against $70B when the second count starts in 2021-03. The two counts — the public tally we pull ourselves (daily since 2026-05-27) and the mirrored snapshots of the second — disagree about what a stablecoin is: 9.00% against 10.32% on 2026-10-22, a median -1.34 points apart over 928 common days. Both are drawn; neither is «the real one». The last view is TOTAL2 and TOTAL3 — the market with bitcoin taken out, and with bitcoin and ether taken out: $1.087T and $0.795T. Same snapshots, two rules for a day: this page also draws the 14 days whose last snapshot landed before 22:00 UTC (the latest 2026-10-11, 2026-10-13 and 2026-10-15), while crypto-total-market-cap leaves them out as not closed — so on those days the market without bitcoin and ether has a point here and none there. No forecast is drawn here.
| leg | first count: our daily snapshot of a free public market-wide tally (global endpoint, no key), one pull a day since 2026-05-27, the days before it loaded in bulk — USDT's share, every stablecoin's share, the total; 2024-04-08 → 2026-10-22, 928 days, 0 gaps · second count: snapshots of a second public market tally taken by an open crawler and mirrored into our own table since 2021-03-26 — the day takes the LAST snapshot of the UTC day. We keep and check the snapshots; we do not take them. The crawler has thinned out: a day of the last thirty carries a median of 5 snapshots, against 24 over the whole history, so «hourly» is what the cadence USED to be, not a promise about today. It carries the stablecoin pile in dollars and the altcoin total; 2,037 days, 0 gaps. NO NEW BYTES were pulled for this page: both files were already on disk for btc-dominance. |
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| cadence | daily; the running UTC day is cut out of the line: Free sees a dashed outline, its reading so far is on Tape |
| since | 2024-04-08 (first count) · 2021-03-26 (second count) — the pile, TOTAL2 and TOTAL3 reach back the further of the two |
| 🩸 why other charts print a higher USDT.D | the number depends entirely on WHAT you divide by, and we divide by the whole market as our first count tallies it — every coin it lists. That is the widest possible denominator, so it gives the smallest possible share: 6.44% on 2026-10-22. A popular charting site's USDT.D divides by its own TOTAL, which its help page (read 2026-09-21) defines as «the total market capitalization of the top-125 cryptocurrencies», with «symbol.D = symbol / TOTAL * 100%». A narrower total is a smaller denominator, so the same dollars print a higher share there. Neither is wrong; they answer different questions, and the difference is the long tail of coins, not a disagreement about Tether. |
| 🩸 a share is not a flow | USDT.D rising does not mean anyone sold a coin for dollars. The ratio moves when prices move: measured here, %+.2f correlation with the logarithm of the bitcoin price over %s days. Read the share as «how much of today's value is denominated in dollars», and read the PILE view for whether dollars actually arrived. |
| 🩸 where it is thinner | «stablecoin» is a list, not a fact, and the two counts keep different lists: on 2026-10-22 the first says 9.00% and the second 10.32%. Median gap over 928 common days -1.34 points, correlation +0.99, worst day -2.66 points. USDT's own share is published by ONE of the two counts only (the first), so the USDT line starts 2024-04-08 while the all-stablecoin line reaches back to 2021-03-26. |
| 🩸 TOTAL2 is the second count's own subtraction | the second count publishes an altcoin total; we checked it against (total − bitcoin) on all 2,037 days and the largest disagreement is 0.109 % of the total, so the two are the same quantity. TOTAL3 we compute ourselves from the same snapshot (total minus bitcoin's and ether's shares) — the count does not publish it. |
| 🩸 too young to rank | the USDT line has 928 days, under the five years this site requires before it prints a rank, so its tile says «day N» instead. The all-stablecoin second count (2,037 days) and the pile are old enough. |
| policy | no export · read it here · the counts on this page are our snapshot of someone else's board: we read it here, we do not redistribute their history |
| this build | data to Oct-22 2026 |
| policy | no export · read it here · the counts on this page are our snapshot of someone else's board: we read it here, we do not redistribute their history |
The chart itself is drawn in the browser: turn JavaScript on to hover a day, pick a window and draw your line. The numbers above come from the last build, Oct-23 2026 21:24Z.
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