Executive Summary
pmUSD held the leaderboard at 5,568 bps while USX, apxUSD, and USDA joined critical severity by 07-13. PSI climbed 91 to 93.4 in BEDROCK; mcap slipped 0.26% to $336.66B.
pmUSD held the top of the Weekly Risk Leaderboard for a seventh consecutive week at 5,568 bps below peg, with market cap eroding from $74.33M on 07-07 to $63.94M by 07-12. Impact scores drifted from 413.9 to 356 across seven sessions as the float thinned. PSI climbed from 91 to 93.4 and never left BEDROCK, a paradox the dashboard has now normalized.
The week's dominant thread was pmUSD's 1,663-hour clock ticking while USX crossed 525 hours at 5,783 bps by 07-13, apxUSD widened to 3,159 bps on 07-07, and USDA joined the critical severity list. Four names, one shelf, is a materially different tape than the two-name basement pmUSD used to occupy. The 07-13 headline, USX Isn't Alone Anymore, was the week in five words.
The counter-narrative sat one grade up. DAI graduated WATCH to CALM at $4.87B mcap on 07-09, PUSD ran C+ to B+ twice at roughly $600M mcap on 07-10 and 07-11, and the Bank Run Gauge midpoint swung from -11.6 last week to +7.1 this week. USYC oscillated C+ to C- to C+ across three sessions at $3.11B mcap, more noise than direction, but closing upward.
Supply moved in size: USDT burned $1.52B on 07-08 with a $1.15B acceleration flag, USDC dropped $721M on 07-07, and BUIDL added $640.86M in each of three consecutive sessions. Blacklist USD ran $67.36M against a prior week of $16.50M, but total events collapsed from 1,335 to 61: fewer, larger seizures on Tron, led by four USDT actions above $7M on 07-10. spUSDT added $444.58M on 07-09, a quieter counterweight to USDT's exit.
Weekly market cap slipped 0.26% to $336.66B while USDT posted 7.73% APY and USDC 10.31% APY without evidence, on $257B of combined float. Next week decides whether the four-name critical shelf becomes five, or whether the pmUSD cohort finally sheds market cap fast enough to fall off the leaderboard entirely.