Executive Summary
USDT added $3.86B in 7d and closed at $189.67B, a fresh ATH; total stablecoin mcap sits 0.33% below its own Digest high while six DEWS ALERTs carry $3.99B.
USDT closed the week at $189.67B, a new ATH that supersedes yesterday's $188.97B mark and caps a $3.86B seven-day build. Tether's largest weekly print on record remains $8.46B from 1,437 days ago, so the current pace reads as orderly accumulation, not a sprint. Total stablecoin mcap sits at $338.15B, 0.33% shy of its $339.26B Digest-window high set a day earlier.
Under the same tape, DEWS lists six ALERT coins worth $3.99B, led by USDe (score 41, supply velocity 85) and SUSD (score 41, cross-source divergence 100). Yields compressed in four places at once: USDC 4.43% against a 30d average of 3.03% with TVL outflow, USDS 3.71% vs 6.74%, USDe 2.21% vs 4.74%, USD1 1.01% vs 1.46%. Growth at the top of the stack, incentives thinning below it.
PSI at 94.6 holds the BEDROCK streak at 17 days, yet the Bank Run Gauge swung from minus 18.8 to plus 39.9 inside two sessions. Next trigger: whether USDT defends $189B through tomorrow's 08:00 UTC snapshot while USDe's ALERT score either drains or crosses 50. One outcome says growth is absorbing the stress; the other says it is papering over it.