---
title: "USDC Adds $786M In One Day"
canonical: "https://pharos.watch/digest/2026-09-22/"
datePublished: "2026-09-22T08:05:40.000Z"
description: "Of USDC's $1.95B weekly build, $786M landed in the last session, while 21 depegs stayed open and PSI held 93 on its 90th BEDROCK day. Next trigger: a repeat abo"
---

# USDC Adds $786M In One Day

## Executive Summary

Of USDC's $1.95B weekly build, $786M landed in the last session, while 21 depegs stayed open and PSI held 93 on its 90th BEDROCK day. Next trigger: a repeat above $985M in a single day.

## Extended

USDC added $786.31M in a single session, about 40% of its $1.95B seven-day build, and the one-day pace is accelerating against that weekly run rate. Supply now stands at $75.63B, some 5% below the $79.75B high set on 11 April. Ethereum took $143.93M of net mint flow, arbitrum $15.83M. DAI ran the other way, down $26.82M on the day.

None of that reached the peg data. Twenty-one depegs are still active and none resolved in the last 24 hours. apxUSD narrowed to 163 bps at $0.983 on $310.91M of market cap, unresolved since the June STRC drawdown dragged it near $0.89. MSUSD widened to 1119 bps from 1083. pmUSD, on day 143, sits 4809 bps below peg against 5134 yesterday.

PSI holds 93 on its 90th straight BEDROCK day, severity 0.04. The three coins driving that severity, EURS, LUSD and VCHF, carry roughly $37M between them against a $320.39B market, which is how 21 open depegs sit under a bedrock print. Aggregate supply is within a fraction of a percent of the $319.71B Digest-window high set 16 days ago.

**Stress bands ease** DEWS ALERT names fell from seven to four across five band changes in 24 hours, though KAU still scores 41 on $318.79M of market cap, driven by cross-source divergence and liquidity erosion. The Bank Run Gauge returned to 1.0 from -11.4 and flight-to-quality is inactive. A second day of USDC issuance above $985M would mark rotation rather than drift; a gauge reading of -10 or lower moves flow stress to the front of the tape.