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01Today's reading
02Composition
03Coverage gaps

OCB Stablecoin Health Index · Dashboard

Read the editorial ↗
OCB Stablecoin Health Index·01·Today

Today's reading of the Stablecoin Health Index.

Healthy Capital

$61.25B
24h+0.04%
7d−0.97%
30d—

Coverage

$266.29B

24h−0.04%
7d+0.03%
30d—

Healthy ratio

25.00%

24h+0.08%
7d−1.00%
30d—

Health score (idx)

67.82

24h+0.01%
7d+4.38%
30d—

OCB Stablecoin Health Index

Healthy Capital · Change over time

Healthy Capital −4.5% · Coverage −1.1% this month.

Window
Series
ONCHAIN
BENCHMARK
Healthy Capital
Coverage
$50.3B$109.2B$168.1B$227.0B$286.0BJun 9, 2026Jun 16, 2026Jun 23, 2026Jun 29, 2026Jul 7, 2026
Source: OCB Stablecoin Health Index · onchainbenchmark.comUpdated Jul 7, 2026
OCB Stablecoin Health Index·02·Composition

The stablecoin mix, then each constituent's dimension scores.

74%USDTUSDT 74%USDC 26%PYUSD 0%

Share of covered supply

USDT
OCB Stablecoin Health Index·03·Coverage gaps

What's blocking each constituent from clearing the healthy threshold.

InstrumentScoreGapBlockerAction that would close
USDTTether
63.1+16.9Reserve attestation cadence: quarterly. Auditor (BDO Italia) is not PCAOB-registered.→ Issuer publishes reserve attestations on at least a monthly cadence with a PCAOB-registered auditor.
USDeEthena Labs
50.2+29.8Offchain delta-neutral positions across centralized exchanges are not publicly readable. The onchain USDC/USDT buffer captures only a portion of the backing.→ Issuer publishes verifiable attestations of the offchain delta-neutral collateral and hedge positions.
USD0Usual Money
63.5+16.5Reserve composition is not published at a single canonical URL. Custody addresses holding the rebalanced backing assets are not enumerated in a public contract or feed.→ Issuer publishes a canonical reserve composition page that enumerates all custody addresses.
USDBBridge (Stripe)
——USDB contract addresses are not publicly disclosed. No reserve attestation has been published.→ Issuer publishes USDB contract addresses and a recurring reserve attestation.
IndexesInstrumentsDataResearchAPI Keys
$192.0B
74.1%
USDC$66.6B25.7%
PYUSD$692M0.3%
Total covered supply$259.3B
TickerIssuerScoreBandCapitalΔ 30dLimitingTraceDrill
USDTTether63.1DEVELOPING$192.04B+$94.97B
Reserve quality6/25
+
USDCCircle83.0INSTITUTIONAL$66.57B+$14.92B
Redemption depth19/25
+
PYUSDPaxos64.0DEVELOPING$692M—
Concentration4/25
+
USDeEthena Labs50.2LIMITED$0—
Concentration4/25
+
USD0Usual Money63.5DEVELOPING$0—
Concentration4/25
+
GHOAave DAO26.8LIMITED$0—
Transparency2/25
+
FRAXFrax Finance27.8LIMITED$0—
Transparency2/25
+