USD1’s circulating supply increased 9.7% over the past seven days to $4.85 billion, making it the fourth-largest dollar-pegged stablecoin behind Tether, USDC, and Sky’s USDS.

According to NS3.AI, DefiLlama data shows about $427 million in new USD1 tokens were added between Monday last week and Sunday.

The update places USD1 behind the three largest dollar-pegged stablecoins by circulating supply while marking a notable weekly expansion in issuance.