Executive Summary
USDC added $1.76B over seven days while the whole stablecoin market added $1.59B, on a baseline covering 226 of 247 coins. One-day issuance was $406.76M; another $510M session would mark rotation.
USDC added $406.76M in a single session and $1.76B across the week, lifting its market cap to $75.55B. That weekly figure exceeds the $1.59B added by the entire stablecoin market over the same seven days, on a baseline covering 226 of 247 core coins; the arithmetic implies net contraction somewhere else in the tape. USDC is still 5% under its April 11 high of $79.75B.
PYUSD is the counterweight, shedding $106.98M in a day against $88.46M over the week, an accelerating outflow from a coin graded B (70) with a clean exit score. RLUSD ran net redemptions of $42.89M over 24 hours. The Bank Run Gauge improved to 20.3 from 9.7 with no flight-to-quality flag, which places the pressure in specific names rather than across the market.
pmUSD widened from 5,193 to 5,604 bps below peg at $0.440 on $41.31M, its V9 card still F (0) on an unsupported same-notional redemption route. USDA is unchanged at 3,098 bps on $145.58M, with live price unavailable. PSI held at 93.5, day 90 of the BEDROCK streak. Next marker: another USDC session of at least $510M in net issuance would turn this week's drift into measurable rotation.