According to Token Terminal data from October 25, 2026, total stablecoin deposits in decentralized finance protocols have reached $24 billion. This figure represents an increase of more than 560% over the past three years and accounts for approximately 8% of the total stablecoin market, which is valued at $298.4 billion.
USDC holds the largest share of these deposits at 38.2%, totaling approximately $9.2 billion. Tether follows with 20.3% or $4.9 billion, while the newer stablecoin USDe accounts for 9% or $2.2 billion. Together, these three assets represent about two-thirds of all stablecoin deposits within the DeFi sector.
Major lending protocols, including Aave V3, Morpho, Sky Protocol, and Spark, host the majority of these assets. While DeFiStar.io reports a total value locked of $25.68 billion in lending pools, the sector recently experienced net outflows of $99.8 million over the past month.
The market remains highly concentrated among the top assets, despite the dataset covering 193 different digital tokens. With roughly 92% of the total stablecoin supply currently held outside of DeFi protocols, analysts suggest significant potential for further growth in the sector.
