Executive Summary
PYUSD burned $300M in a day, matching its full 7d contraction. Yield fell to 2.9% against a 4.14% weekly average. Another $200M print turns a single exit into a trend.
PYUSD burned $300M of its $3.74B float in 24 hours, matching the full $315M seven-day contraction in a single session. Yield collapsed in step: 2.9% APY against a 4.14% weekly average and a 2.77% monthly, flagged as tvl-outflow. Paxos's stablecoin keeps an A- grade, but the exit door is clearly being used.
The broader tape is quieter. USDT added $3.17B over the week to print $187.92B, a fresh ATH by a whisker. Total stablecoin mcap sits at $329.87B, 0.49% under the Digest-window high set three days ago. PSI at 93.1 extends the BEDROCK streak to 14 days, the lowest reading since April 7.
DEWS held nine ALERT coins worth $6.53B, with USDe scoring 45 on mint and supply velocity, USDD pinned at 37 on liquidity erosion. Watch PYUSD's next 24h print: another $200M burn turns a single-day exit into a trend and pulls the A- grade into review. RLUSD's liquidity score slid 75 to 66 on a $2M TVL drop, a secondary tell for where the next rating cut lands.