The stablecoin market has reached a new all-time high, with the total market capitalization of fiat-pegged tokens surpassing $310 billion during the second week of December. After a modest pullback in mid-November, when total value slipped from $309 billion to a low of $302.88 billion, the sector rebounded and climbed to around $310.09 billion as of December 13.

Week over week, the market expanded by about 0.57%, with roughly $1.79 billion flowing into stablecoins. Tether’s USDT continues to dominate with more than 60% market share, reaching a capitalization of $186.26 billion after adding over $536 million in the past week. Circle’s USDC also posted strong inflows, gaining around $613 million to reach $78.41 billion.

Among the top stablecoins, Circle’s USYC recorded the largest seven-day percentage increase at 4.02%. In contrast, BlackRock’s BUIDL declined sharply by 13.24%, bringing its market cap down to about $1.32 billion. On a monthly basis, BUIDL has contracted by more than 42%, with nearly $1 billion exiting the token.

Outside the top ten, Tron’s USDD surged 23.46% while crvUSD jumped 28.92%. Meanwhile, yield-bearing stablecoins continued to struggle, with Ethena’s USDe down nearly 3% on the week and USDtb plunging almost 19%. Data from Stablewatch shows the combined market cap of yield-bearing stablecoins has fallen more than 9% over the past 30 days to just above $18 billion, reflecting investor caution and a broader risk-off environment following the October crypto market crash.