Independent stablecoin research tracking the adoption of digital dollars relative to the US money supply.
DDD Research publishes the Digital Dollar Dominance benchmark, an open metric measuring stablecoin market capitalisation as a percentage of US M2. Our stablecoin analysis is unaffiliated with any stablecoin issuer, protocol, or financial institution.
Current Stablecoin Benchmark Reading
Full dataset and charts →Digital Dollar Dominance (DDD)
Total stablecoin market capitalisation divided by US M2 money supply (FRED M2SL, seasonally adjusted). A single ratio capturing the advance of programmable dollars within the broader monetary system. The benchmark provides researchers and analysts with a transparent measure of dollar digitization and stablecoin adoption trends over time.
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What We Research
DDD Research focuses on the intersection of stablecoins and the traditional monetary system. Our core question: how fast are programmable dollars replacing or augmenting the existing money supply?
We track stablecoin trends across all major blockchains, monitor stablecoin adoption data in real time, and publish the Digital Dollar Dominance benchmark as a single, transparent metric for measuring progress. Our research covers stablecoin market capitalisation relative to US M2, stablecoin vs M2 trends, and the broader trajectory of dollar digitization.
Methodology
Numerator: Total stablecoin market capitalisation via DeFi Llama, encompassing all tracked stablecoins across all chains. Denominator: US M2 money supply via FRED M2SL (seasonally adjusted), published monthly by the Federal Reserve. The ratio is expressed as a percentage and updated continuously.
Full methodology →About DDD Research
DDD Research was founded by Chris McNicholas to provide a clear, independent measure of stablecoin adoption. The Digital Dollar Dominance benchmark exists to give researchers, analysts, and the public a simple, transparent metric for tracking how programmable dollars are growing relative to the traditional money supply.
Learn more about DDD Research →Contact
For enquiries, data partnerships, or media requests: hello@dddresearch.com