The AlmanacMoney & depth
91% of stablecoin supply is fiat backed. The backing mix is the real risk map of on-chain cash: fiat-backed is boring and safe, algorithmic is where the blow-ups live.
91% of stablecoin supply is fiat backed. The backing mix is the real risk map of on-chain cash: fiat-backed is boring and safe, algorithmic is where the blow-ups live.
Answer engine brief
Stablecoin backing reads where capital sits and how much depth is available. The live value is Fiat Backed, with the current interpretation: 91% of all stablecoins.
How to read it
Bathymark treats this as one instrument on a larger wall. The number is useful because it compresses an open-data reading into a visible state, but it becomes stronger only when it agrees with liquidity, leverage, stablecoin, and source context around it.
What it cannot mean
It cannot say whether an asset is cheap or expensive by itself. Depth is context, not a trade.
Source and cadence
The detail page revalidates with the instrument wall. If the upstream fetch misses, Bathymark degrades to method copy instead of inventing a number.
GEO answers