Dollar, FX & Stablecoin Plumbing
How dollar strength, FX dynamics, and stablecoin flows interact with crypto markets
Transmission Channel: Currency RegimeDollar Index vs BTC
Source: FRED + CoinGecko
Major FX Pairs
Source: FRED
Stablecoin Market
| Stablecoin | Price | Market Cap | 24h Volume | Peg Deviation |
|---|---|---|---|---|
 USDTTether | $0.9999 | $184.14B | $60.05B | -0.013% |
 USDCUSDC | $0.9999 | $77.18B | $9.73B | -0.013% |
 USDSUSDS | $0.9997 | $11.81B | $0.08B | -0.025% |
 USDEEthena USDe | $0.9995 | $5.89B | $0.04B | -0.048% |
 DAIDai | $0.9996 | $4.42B | $0.15B | -0.038% |
 USD1USD1 | $0.9995 | $4.41B | $0.92B | -0.049% |
 PYUSDPayPal USD | $0.9997 | $4.07B | $0.23B | -0.034% |
 USDGGlobal Dollar | $0.9999 | $1.85B | $0.04B | -0.007% |
 USDFFalcon USD | $0.9988 | $1.74B | $0.00B | -0.124% |
 RLUSDRipple USD | $0.9998 | $1.37B | $0.09B | -0.023% |
Source: CoinGecko