Morph Stablecoins: USDT, USDC, and USDe, Supply & Risk

Stablecoin supply, Chain Health and tracked deployments on Morph.

Chain Health methodology 1.7 · Version history →

About the Morph registry cohort

Morph has 9 tracked deployments across 9 stablecoins in the checked-in Pharos registry. The mapped set includes Tether (USDT), USD Coin (USDC), and Ethena USDe (USDe). Each of the 9 stablecoins has one mapped contract on the network.

The Morph cohort's peg mix is US Dollar (8) and Korean Won (1); its backing mix is RWA (5) and Crypto (4); and its governance mix is CeFi (5) and CeFi-Dep (4). These counts classify stablecoins rather than contracts, so an asset with multiple deployments is not double-counted.

Current supply ordering, global market share, and largest-asset concentration for Morph come from the coordinated live snapshots below. Keeping those volatile values in the live profile lets this static overview identify the exact registry cohort without presenting a build-time concentration figure as current.

Total supply

Global share

24h

7d

30d

Chain health score

Quality (30%)—

Environment (20%)—

Concentration (20%)—

Peg Stability (20%)—

Backing Diversity (10%)—

Methodology v1.7View methodology Version history →

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Taxonomy pages represented by the stablecoins deployed on this chain.

US Dollar (USD) Stablecoins: 297 Tracked, Ranked by Risk8 stablecoins in this chain profile CeFi Stablecoins: 180 Coins Ranked by Risk5 stablecoins in this chain profile RWA-Backed Stablecoins: 206 Coins Ranked by Risk5 stablecoins in this chain profile CeFi-Dependent Stablecoins: 200 Coins Ranked by Risk4 stablecoins in this chain profile Crypto-Backed Stablecoins: 189 Coins Ranked by Risk4 stablecoins in this chain profile Korean Won (KRW) Stablecoin: 1 Coin Tracked1 stablecoin in this chain profile

Stablecoin Research Surfaces

Use these feature pages to compare the same stablecoin set from other angles.

Stablecoin taxonomiesBrowse by peg currency, backing, governance, and shared infrastructure.Safety ScoresCompare peg, liquidity, resilience, decentralization, and dependency risk.LiquidityInspect DEX liquidity depth and concentration for tracked stablecoins.FreezeWatchReview issuer-control and blacklist event monitoring.